JEDDAH, 24 August 2004 — Work on the multibillion-riyal Jabal Omar real estate project in Makkah began yesterday as utility services to existing 580 buildings in the area were cut in preparation to demolish them and erect new residential towers designed to accommodate 34,500 people.
The project, which is estimated to cost SR12 billion, is one of the largest schemes aimed at developing areas surrounding the Grand Mosque. Spread on an area of 230,000 square meters, the project includes five-star hotels, commercial centers, and prayer facilities for 200,000 worshippers, the Saudi Press Agency said.
The project will have 4,500 shops and 3,000 showrooms, a central transport station and parking facility for 12,000 vehicles.
A joint stock company will be established to implement the giant project, said Abdul Rahman Faqeeh, chairman of Makkah Construction Company. “It will create a model residential and commercial center with new roads, pathways, tunnels, electric stairs, and other facilities,” he told Arab News.
The Makkah Development Authority recently completed a survey for the project and established the market value of the real estate at SR4.2 billion. Owners of Jabal Omar plots have the option either to join the new joint stock company or sell their property to it for development.
The project site is bordered by Umm Al-Qura Street to the north, Duhlat Al-Rushd to the south, Ibrahim Al-Khalil Street to the east, and Al-Hafaer and Al-Tendbawi to the west.
