Tuesday 17 October 2017
 
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70,000 HOTEL ROOMS PLANNED

Makkah project location

Saudi fund to launch firm to boost pilgrim facilities

RIYADH, 12 days ago

Saudi Arabia’s Public Investment Fund (PIF) is preparing to launch Rou'a Al Haram, a development company set to increase facilities and services for pilgrims and visitors to the Grand Holy Mosque performing Haj or Umrah.

Rou'a Al Haram will act as a catalyst for developing the areas around the holy sites and raising the quality of services in the local hospitality sector.

The company's establishment is in line with Vision 2030, which aims to provide an opportunity for the largest possible number of Muslims to perform Haj and Umrah, and to enrich and deepen their experience through the development of the two Holy Mosques. The number of people visiting Makkah is expected to reach more than 30 million by 2030.

The first phase of the company's projects will cover an area of 854,000 sq m, delivering 115 buildings of various architectural designs. A total of 70,000 new hotel rooms will enable the site to receive 310,000 visitors per day.

In addition, the first phase will see the development of around 9,000 residential units, 360,000 sq m of commercial space and prayer areas designated for more than 400,000 worshipers. The project will take place only 1,430 meters away from the Holy Kaaba.

Rou'a Al Haram will raise the level of development in the areas surrounding the Grand Holy Mosque, making it among the best examples of development worldwide. In addition, it will support job creation and investment as part of a wider plan to diversify the national economy.

Initial preparation works are currently under way, with construction due to start in 2018. The first phase of the project is anticipated to launch in 2024.

The projects will create around 160,000 job opportunities by 2030, with an estimated annual contribution to GDP of SR8 billion ($2.1 billion). – TradeArabia News Service




Tags: Saudi Arabia | PIF |

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