"Work is currently going on in the blueprint of the
project. Six months after that we will start signing contracts for the
execution of the project," he told business daily Al-Eqtisadiah.
He said the network will cover all parts of Makkah and will
facilitate transport to the city center and the Grand Mosque.
Al-Bar expected Makkah to attract investments of more than
SR200 billion in the coming two years and said government and private
development projects worth about SR100 billion were currently being implemented.
"Makkah is a safe haven for investment," he added.
He said among others, the ongoing development projects in
Makkah include the project of Custodian of the Two Holy Mosque King Abdullah
for the development of the holy city, which was being directly financed by the
Finance Ministry away from the budgets of the government departments concerned.
Al-Bar described King Abdullah's project as "pioneer
and unprecedented" and said it was aimed at developing the basic
infrastructure of the holy city in a limited period of time.
He explained that the project consists of axial and ring
roads and transport stations. "A budget of SR23 billion has been allotted
for the implementation of the first phase of the projects," he added.
The mayor said about 3,000 real estate units have been
expropriated for King Abdullah's expansion of the Grand Mosque for which
compensations of more than SR40 billion were paid.
He said the expropriated real estate was estimated at
SR550,000 per sq. meter, which is equivalent to $18,000 per sq. foot.
"This is among the highest rates in the world," he said.
