Firm invests $2.66bn in Makkah hotel projects
Jeddah, April 25, 2012
Saudi Arabia’s Abdul Latif Jameel Real Estate Investment Company (ALJREIC) is investing SR10 billion ($2.66 billion) in developing new hotels in Makkah, its chairman said.
Yousef Abdul Latif Jameel said the company is developing Jabal Al Kaaba project, investing up to SR6 billion in land and SR4 billion in the construction of hotels.
Jabal Al Kaaba project will deliver a fresh supply of 8,500 hotel rooms in a cluster of hotels over the next few years.
ALJREIC is also launching a new Saudi hospitality brand, Anjum Hotels, which is inspired by the Saudi Hijazi culture.
Anjum Makkah, the brand’s flagship hotel and the first to be developed within the project, consists of 1,795 rooms and suites and will open in the first quarter of 2013, to receive guests visiting Makkah for Haj and Umrah. The project is located in front of the Holy Haram.
“The Holy City of Makkah has been witnessing a construction boom, with the implementation of major projects to cater to the needs of citizens, visitors and pilgrims,” said Jameel “Saudi Arabia is currently experiencing an unprecedented development period under the wise leadership of the Custodian of the Two Holy Mosques King Abdullah.”
ALJREIC is currently developing a total area of 54,000 sq m for 5-star hotels in Makkah to help address the growing demand in the tourism industry, he said.
The Saudi Commission for Tourism & Antiquities (SCTA) has revealed in its latest report that Saudi Arabia will attract 88 million visitors by 2020, in line with its plans to develop the domestic and business tourism in addition to developing the tourism for religious purposes. The number of visitors for tourism and religious purposes in particular is expected to reach 15.8 million by 2014, compared to 13 million in 2010. –TradeArabia News Service