$5bn projects coming up in Makkah
Jeddah, October 22, 2012
A total of 100 towers worth SR18 billion ($4.8 billion) are currently under construction near the Grand Mosque in Makkah which once completed will add more than 24,480 hotel rooms to the hospitality industry, said an expert.
The Saudi Arabian government continues to invest billions of riyals into various infrastructure and hospitality related projects in the kingdom which is facilitating a construction boom, while also stimulating growth of the country’s hospitality industry, especially tourism for religious purposes.
On the other hand, the King Abdul Aziz International Airport in Jeddah, the closest airport to Makkah, is undergoing a capacity expansion from 12 million to 14 million passengers per year.
Additionally, SR62 billion is being invested for the Makkah Metro project to cater to the requirements of the steadily increasing number of tourists visiting Saudi Arabia for religious reasons.
This and various other infrastructure projects in the Kingdom are in turn creating new opportunities in the hospitality industry, especially for many private sector players who are involved in several hospitality-related construction projects.
Among various major developments taking shape in Makkah is the Jabal Al Kaaba project which will deliver 1743 hotel rooms during the second quarter of 2013 through the “Anjum Hotel” alone, which is rapidly nearing completion and represents 7.3 per cent of the total new hotel accommodation capacity that will be offered in Makkah.
Upon completion of the whole project an additional 8,500 rooms will be added, through the cluster of hotels under the “Anjum Hotels” brand which represents 34.7 per cent of the total capacity.
"Our current focus is on the timely completion of the Anjum Hotel, which is the flagship hotel of our ‘Anjum Hotels’ brand," remarked Yousef Abdul Latif Jameel, the chairman of Abdul Latif Jameel Real Estate Investment Company (ALJREIC), the company behind the Jabal Al Kaaba project.
"A hotel of this scale will be a welcome addition to Makkah, which is set to receive more than 13 million pilgrims during Hajj and Ummrah by 2019, up from 3.8 million during the last two years," Latif Jameel pointed out.
"We are also keen on complementing the government’s development plans throughout the country and key projects such as the various construction projects, the expansion of Jeddah International Airport and the Makkah Metro, among others," he added.
Currently the entire structure of the “Anjum” hotel is complete, with finishing and interior works set to begin shortly, said the top official.
ALJREIC will be selecting the interiors of the hotel to reflect the Saudi Hijazi culture, while also complementing the overall elegance and international standards of the hotel.
Mahmoud Mokhtar, the chief operating officer, said: “Every detail of the construction and the interior design of the hotel is closely monitored by the management to ensure that the project is on schedule and also to meet the highest standards of quality."
"The guestrooms, lobby, reception and concierge areas as well as other hotel facilities are almost complete. In the coming few months we will be putting final touches to the hotel ahead of its opening in the second quarter of next year," he added.-TradeArabia News Service
More Construction & Real Estate Stories
- Drake & Scull clinches $461m Saudi contract
- Obayashi-HBK venture wins Doha project deal
- Bahrain halts digging at housing project site
- Strike won't affect projects says Arabtec
- Bahrain cuts new property registration cost
- IPIC to use $4bn pipeline payment to repay debt
- MMG appoints advisor for debt restructuring
- Dar Al Arkan to sell benchmark-sized sukuk
- Bahrain plans $52m spend on infrastructure
- Bahrain launches massive homes revamp