Jun 02 2012 |
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Saudi Mecca City Launches Major Residential Project Saturday -Report
Saturday, Jun 02, 2012
BEIRUT (Zawya Dow Jones)--Saudi Arabia's Bawabat Makkah Co., an investment arm of the Mecca municipality, launches today its first project--a major residential development covering an area of 1.5 million square meters, Abha-based Al Watan daily reports Saturday, citing an official.
The project, named Sumou Suburb, is part of the Bawabat Makkah development that covers an area of 85 million square meters in the western suburb of the Saudi holy city and that will be developed over 15 years to house 600,000 residents, the paper reports.
A company has been formed to develop the Sumou Suburb project that will involve the construction of residential units including villas, the daily reports quoting Osama Al Bar, mayor of Mecca and chairman of Al Balad Al Ameen Co.--the urban development arm of Mecca municipality. The Sumou Suburb Co. is 25% owned by Al Balad Al Ameen and 75% by the local Sumou Real Estate Co., he told Al Watan.
Along with the residential units, the Bawabat Makkah development will include a university, medical centers, a national park, and an entertainment and education complex, in addition to cultural facilities, heritage centers and museums, the paper reports.
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
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