JEDDAH, 10 July 2005 — Hundred and fifty-three new residential towers will be constructed in Makkah under a major housing project, which is estimated to cost SR14 billion, according to Saad ibn Jameel Al-Qurashi, a businessman.
He said three international consultancy offices would present their studies and final designs of the project to the Makkah Development Authority for approval shortly. The project is designed to accommodate 350,000 pilgrims.
Qurashi said the residential towers would cover an area of 1.2 million square meters in Misfala neighborhood in the central region of the holy city, adding that a joint stock company would carry out the project.
“Owners of real estate properties in the area will participate in the company, either by offering their land or selling them to investors,” Qurashi told Al-Eqtisadiah business daily, a sister publication of Arab News. He said the new company would float its shares for public subscription.
The project, which is the brainchild of Qurashi, is located just 800 meters away from the Grand Mosque. There is increasing prospects for such residential projects in Makkah in the backdrop of the growing of number of pilgrims who come to the city for Haj and Umrah every year. At present, nearly 2.5 million pilgrims come to Makkah for Haj and more than five million for Umrah. According to a study, about 28 percent of a pilgrim’s expenditures go for housing.
Qurashi said the project was aimed at developing disorganized areas around the Grand Mosque and create comfortable housing facilities for pilgrims. It would also contribute to strengthening national economy by boosting real estate investments, he added.
Last November, Crown Prince Abdullah launched six major development projects worth SR35 billion around the Haram Mosque in Makkah. The projects, including expansion of the mosque’s northern courtyard and construction of residential towers, are aimed at providing more housing and prayer facilities for pilgrims.
The projects include the SR12 billion Jabal Omar residential towers, one of the largest ventures aimed at developing areas surrounding the Holy Haram. Spread over an area of 230,000 square meters, the project includes five-star hotels, commercial centers and prayer facilities for 200,000 worshippers. Other projects dedicated by the crown prince were: Development of Ajyad General Hospital, which is located close to the mosque, and construction of another road to Haram parallel to the existing road from the Jeddah-Makkah Expressway. The new five-km road, to be named after King Abdul Aziz, is designed to benefit pilgrims.
The new projects cover development of Shamiya, Jabal Khandama and Jabal Al-Kaaba areas around Haram. Analysts have estimated that the new projects would attract more than SR50 billion in investments.
The total area to be developed under these projects is estimated at 587,250 square meters, with 90 percent being old buildings. The expansion of the mosque’s northern courtyard itself will cover an area of 1.2 million square meters between the mosque and the second ring road to the north, Masjid Al-Haram Street to the east and Jabal Al-Kaaba Street to the west.
In February last year, Custodian of the Two Holy Mosques King Fahd ordered massive development plans for Makkah, Madinah and other holy sites in order to meet both present and future needs. The king issued a decree announcing a 20-year plan to be carried out by a special commission.
