The Kingdom’s Public Investment Fund (PIF) said the companies — Rou’a Al Haram and Rou’a Al Madinah — will develop residential and commercial areas around the Grand Mosque in Makkah and in Medina.
Grand Mosque Makkah
Rou’a Al Haram aims to develop the areas around the Grand Mosque in Makkah and raise the quality of services in the local hospitality sector. The first phase of the company’s projects will cover an area of 854,000 square meters, delivering 115 buildings of various architectural designs. The company’s first phase will also see the development of around 9,000 residential units, 360,000 square meters of commercial space and prayer areas for over 400,000 worshippers. The project is located around 1.4 kilometers from the Holy Kaaba, the fund said.
The Kingdom’s National Transformation Program has earmarked approximately $8 billion for tourism projects across the country, including its recently announced Red Sea project, which aims to transform 50 islands for luxury tourism purposes.
Source Credit: Arab news
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