KSA launches US$ 55 mn housing project in Madinah
Posted on 24th July 2014
As per reports in the Arab news, a Saudi daily, Madinah Gov. Prince Faisal bin Salman launched a massive real estate project here Tuesday, which is estimated to cost SR 55 billion.The project, comprising 100 residential towers with four-star to five-star hotels, will accommodate more than 120,000 people. The state-owned Public Investment Fund is financing the project.
Finance Minister Ibrahim Al-Assaf, Haj Minister Bandar Hajjar and other senior government officials attended the launching ceremony. The project will create an additional 40,000 rooms near the Prophet’s Mosque in Madinah to meet the needs of visitors.
The building will also house the Haj Ministry’s branch office in Madinah, the office of the Higher Haj Committee, other related Haj agencies, office of the Saudi Commission for Tourism and Antiquities and offices of the Tawafa organizations for pilgrims from different countries.
The Ministry of Finance revealed that the project, named Dar Al-Hijrah, is being built on an area covering 1.6 million square meters, adding that it would take two years to complete. Of the 100 towers, 20 will be used for administrative purposes and 80 for residential purpose. Each building would have 30 floors.
According to the ministry, the project will also include 76 four-star hotels and six five-star hotels offering rooms for 40,000 people. The government offices are designed to accommodate 31,000 employees.
The project will also house a 400-bed hospital. A railway station would also be built to transport up to 84,000 pilgrims daily to and from the Prophet’s Mosque on lines elevated above the streets and bus station.
The project would be implemented over three phases, the ministry said. The first phase would include the foundation building process. The second phase would see the building of offices for the Ministry of Haj, which would open before the next Haj season. The third phase involves the construction of residential buildings, which would open after next year's Haj season.
The project site has already been handed over to contractors. The project is part of projects ordered by Custodian of the Two Holy Mosques King Abdullah to expand and upgrade the Prophet's Mosque and surrounding areas.Back to all Construction News
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