The Saudi Railway Company (SAR) closed a series of agreements, including moving to set up a real estate fund, as well as separate infrastructure, urban mobility, and investment partnerships. The agreements were announced at the SaudiInternational Rail exhibition, which wrapped on Monday.

SAR appointed Riyad Capital to establish a real estate fund to develop a mixed-use project in Makkah’s Al Rusayfah district, with an estimated investment of SAR 6 bn. The 90k sqm development will adopt the transit oriented development (TOD) model, creating a walkable, connected community centered around public transport access and featuring hotels, residential units, and commercial spaces.

SAR also inked an agreement with Sedco Capital to develop an investment site near Dammam station, transforming the area into a new commercial and real estate hub connected to the rail network.

To improve urban mobility, SAR inked an agreement with Jeddah Transport Company to integrate bus and train services at the Haramain High-Speed Railway Station, introducing shuttle connections and in-station bus ticketing to streamline passenger movement.

On the infrastructure and innovation front, SAR signed several MoUs with local and international partners, including Siemens Mobility Saudi to advance the Riyadh-Dammam line and Riyadh Link project, and Ericsson to upgrade railway communication systems. Additional agreements with MERMEC and DOHWA aim to localize inspection technologies and train Saudi engineers, while an MoU with the Saudi Authority for Industrial Cities and Technology Zones (Modon) seeks to boost cooperation in developing local industries linked to the railway sector.

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