Emlak Konut Global LLC, the Riyadh-based subsidiary of Türkiye’s leading real estate developer Emlak Konut, has launched its operations with a landmark agreement valued at approximately $400 million.
The company signed a preliminary deal with the National Housing Company (NHC), an affiliate of the Saudi Arabian Ministry of Municipalities and Housing, to develop the Hayat Mekke Project, marking its first major initiative in the Kingdom.
The project, located within the Holy Haram area along the Mecca entrance corridor, will create a comprehensive living space featuring 1,014 villas, commercial units, mosques, masjids, schools and a wide range of social amenities, Emlak Konut detailed in a filing with Borsa Istanbul.
Emlak Konut Global LLC will oversee all aspects of planning, procurement, site management and execution. The company also intends to introduce its proven Revenue Sharing Model and pre-sale expertise — successfully applied in Türkiye — on an international scale through this initiative.
“This collaboration represents a strategic milestone in exporting our Company's technical know-how and strengthening regional cooperation,” said Emlak Konut.
