Umm Al-Qura University (UQU) President and Chairman of the Board of Directors of Wadi Makkah Technology Company, Dr. Bakri bin Matouq Assas, along with the CEO of Wadi Makkah in Al-Abediya, and in the presence of Dr. Hemdan bin Darwish Al-Ghamdi, Supervisor General of the Legal Department, signed the record of receipt, at the company's headquarters in Al-Abediya.

UQU President lauded the support of the wise leadership- May Allah support it- to the university; contributing to the provision of the educational environment through which quality programs compatible with the Saudi vision 2030 are being presented. He pointed out that Wadi Makkah Technology Company is an investment company owned by UQU, and it was established in accordance with a royal decree. It aims at effectively contributing to the development of knowledge economy through partnership between educational and research organizations and the business sector; in addition to the trade-based investment through investing in the joint projects that enrich experiences, as well as the practical implementation by the university students  and professors.

HE said that Wadi Makkah Co. managed to achieve 29 technological products, establish 15 start-ups, and enter the labor market; pointing out that the sales of these start-ups reached about SAR 46 million. They positively influenced the motivation of the inventors and entrepreneurs and the adoption of creative and innovative work.  Then, he praised the keenness and follow-up of HRH Prince Khaled Al-Faisal, advisor to the Custodian of the Two Holy Mosques and Prince of Makkah, along with HRH Prince Abdullah bin Bandar bin Abdulaziz, Acting Prince of Makkah, to the UQU activities and programs.

For his part, Dr. Faisal bin Ahmed Alaf, CEO of Wadi Makkah Technology Company, appreciated signing the record of receipt, by Dr. Bakri Assas, of the land allocated to Wadi Makkah on area of 200000 square meters. He pointed out that this area would be turned into a business incubator and a platform for the launch of start-ups. The project is located in the eastern part of UQU's University City in Al-Abediya, and it is connected with public transportation, which is the will-be-implemented subway. Additionally, the initial scheme for Wadi Makkah Company includes incubators and business accelerators; in addition to the trade line that includes Wadi Makkah Hotel, an administrative center, international companies’ centers, and an area for residence and social activities.