JEDDAH, 25 November 2002 — Crown Prince Abdullah, deputy premier and commander of the National Guard, will lay the foundation for a major investment project at the site of an SR2 billion King Abdul Aziz endowment property in Makkah on Thursday, press reports said.
Okaz newspaper said the project will comprise 25,000 housing units, which will be rented to pilgrims during Haj and Umrah seasons.
The project is expected to provide jobs for 5,000 Saudis, the paper added.
Saleh Al-Sheikh, minister of Islamic affairs, endowments, propagation and guidance, said that the revenue from the project, which includes a hotel and shopping centers, will be used for the development of the two holy mosques.
Custodian of the Two Holy Mosques King Fahd last week named the endowment property, site of Ajyad Fort on Makkah’s Bulbul mountain, after King Abdul Aziz. The fort, located close to the Grand Mosque, covered an area of over 23,000 square meters.
The project will include residential towers with varying heights, restaurants, a parking site for 1,500 vehicles and a prayer place for more than 50,000 worshipers.
According to a previous statement made by Dr. Abdul Rahman Al-Matroudi, deputy minister for endowment affairs, there were plans to construct 11 residential towers consisting of 942 flats and a five-star hotel with 1,220 rooms on the site.
The new project will cover a total area of 297,000 square meters. The 11 residential towers will have 17 to 32 floors containing 942 flats.
The Ministry of Islamic Affairs has adopted a new strategy to develop endowment properties in various parts of the Kingdom by constructing shopping centers and residential complexes.
Asked whether there was any plan to establish similar endowment projects in Madinah, Al-Matroudi said: “At present, the focus is on the Makkah project. We will invest the endowment property for the service of the Haram Mosque and spend the revenue for cleaning and other related purposes.”
