THE Abdul Latif Jameel Real Estate Investment Company (ALJREIC) announced its plans to pump SAR 12 billion (3.1billion) in investments to develop new hotels in Makkah and accommodate the growing demand for hospitality services, particularly during the Hajj and Ummrah seasons. The group’s chairman Yousef Abdul Latif Jameel revealed that ALJREIC is developing the Jabal Al Kaaba project, investing up to SAR 12 billion ($3.19 billion) with almost SAR 7 billion ($1.8 billion) in land and SAR 5 billion ($1.3 billion) in hotels’ construction.
The Jabal Al Kaaba Development 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 will be operated by the company’s hotel division team, inspired by the Saudi Hijazi culture and up to date international hotels’ quality standards. 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 Hajj and Umrah. The project is located in front of the Holy Haram.
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“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 HRH the Custodian of the Two Holy Mosques King Abdullah bin Abdul-Aziz. The backlog consists mainly of government-backed projects, as well as other projects carried out by private investors such as Aljeric, which is currently developing a total area of 54,000 sq m for five-star hotels in Makkah to help address the growing demand in the tourism industry.”