Jabal Omar Development Company, the largest listed real estate group in Saudi Arabia by market capitalisation, has completed the first phase of its iconic SR20 billion ($5.3 billion) project near the Grand Mosque in Makkah, said a report.

The Phase One, which was implemented at a cost of SR3.41 billion ($908 million), includes four foundation structures,10 hotel towers including Hilton Suites Makkah, Makkah Marriott Hotel, Hyatt Regency Makkah, and Jabal Omar Conrad Hotel besides 97 villas, reported Saudi Gazette.

A host of shopping malls too have been launched as part of the initial phase.

Makkah Emir Prince Khaled Al Faisal inaugurated the Phase One of the Jabal Omar project which is being developed on a 2.2 million sq m of land in five phases.

The emir was later briefed on the project and its future expansion plans, stated the report.

He honoured the founding directors of the board of Jabal Omar Development Company, headed by Sheikh Abdul Rahman Faqeeh, at a ceremony which was attended by Makkah Deputy Emir Prince Abdullah Bin Bandar and several senior officials.

Prince Khaled named the main conference hall at Hilton Hotel in honour of Faqeeh, it added.