Riyadh – Mubasher: The Saudi Public Investment Fund (PIF) on Monday announced that it is preparing to launch Rou’a Al Haram, a development company set to increase capacity for pilgrims and visitors of the Grand Holy Mosque performing Hajj or Umrah.
PIF also announced that it is preparing to launch Rou’a Al Madinah, another company set to develop the area east of the Prophet’s Mosque to accommodate more visitors, according to the Saudi Press Agency (SPA).
The establishment of both companies is in line with Vision 2030, which aims to provide an opportunity for the largest possible number of Muslims to perform Hajj and Umrah, and to enrich and deepen their experience through the development of the Two Holy Mosques, SPA added.
By 2030, the number of visitors to Makkah is expected to reach more than 30 million, while Al Madinah visitors are expected to reach 23 million per year.
In Makkah, The first phase of the company’s projects will cover an area of 854,000 square meters, delivering 115 buildings of various architectural designs. 70,000 new hotel rooms, accommodating 310,000 visitors per day, as well as the development of around 9,000 residential units, 360,000 square meters of commercial space and prayer areas designated for more than 400,000 worshipers.
On the other hand, Rou’a Al Madinah’s project will develop an area of 1.3 million square meters, adding 80,000 new hotel rooms with 500 residential unit and prayer areas of 200,000-worshipper capacity.
Both projects will raise the level of development in the areas surrounding the Two Holy Mosques, as well as creating around 360 job opportunities, and contribute SAR 15 billion to the gross domestic product (GDP), as part of a wider plan to diversify the national economy of Saudi Arabia.
