Makkah Gov. Prince Khaled Al-Faisal on Sunday urged Saudi businessmen to invest their money in the Kingdom to take the country to greater heights.

“Saudi Arabia is now going through an unprecedented phase of progress,” he added.

Prince Khaled was speaking at a signing ceremony for the establishment of the Jurhum Development Company, which has been assigned to develop the Sharashif mountainous region in Makkah, which spans 1.63 million square meters.

“Such are moments that cannot be calculated in days and years but by work and achievement,” the governor said.

He described Custodian of the Two Holy Mosques King Abdullah as a courageous king who takes initiatives.

“You should give priority to the Kingdom when investing,” the governor told Saudi businessmen and businesswomen. “You have a duty toward the Kingdom since this is the country that helped you achieve wealth,” he said.

Prince Khaled said such investments would boost the Kingdom’s growth, benefiting future generations.

“Sharashif will be the first region to be developed under a massive project to develop poor residential districts in the Makkah region,” he pointed out.

He urged businessmen to complete the Sharashif project as quickly as possible.

The governor said the bylaws for the development of the Ruwais and Khozam districts in Jeddah would be revised to comply with new rules and regulations.

Makkah Mayor Osama Al-Bar said work on the Sharashif project would commence in three months.

The Jurhum company will hold its first meeting in a week, he said, adding that its bylaws would be reviewed by mid-December in time for the company to begin business activity by the beginning of 2014.

There are 66 underdeveloped districts in Makkah, which will be developed through five mega projects, the mayor said.