MAKKAH, 10 June 2003 — In response to the ever-increasing numbers of pilgrims visiting Islam’s holiest city, a billion dollar project is to be realized in Makkah.
Al-Bait Towers will be built on the site of the Ajyad Fort, demolished last year, at a cost of $1.6 billion. It is due to be completed in early 2006.
The Saudi Binladen Group will be involved in construction, while Arriyada Financial and Economics Consultant Center will take care of the financing, and Giwar Real Estate Management and Marketing Company are in charge of marketing.
“Every year the number of Haj and Umrah pilgrims is increasing,” said Dr. Tarik Himdi, former deputy supervisor of Haj Statistical Unit of the Ministry of Haj.
“This year’s total number of pilgrims was approximately two million, some 200,000 more than in 2002. Consequently, there’s a great demand for more housing units in Makkah and Madinah,” he said.
Al-Bait Towers is the biggest investment project so far to try and cash in on the pilgrim trade.
Just yards away from the Holy Mosque and in front of its landmark King Abdul Aziz Gate, the project will comprise a five-star hotel, a four-tower residential complex, a shopping mall and parking for up to 2,000 vehicles.
The residential elements of the project consist of four towers with between 27 to 31 floors providing 4,668 residential units, served by over 100 elevators.
Heba Himdi Special to Arab News
© Arab News 2003
