Rua Al Madinah Holding signed two contracts worth more than 300 million riyals with several international consultancy firms specializing in designs, engineering consultations, and supervision of several hotels within the fourth and fifth Super Blocks of Rua Al Madinah project. This occurred during the company’s participation in the second edition of the PIF Private Sector Forum, held on February 6-7, 2024, at the King Abdulaziz International Conference Center in Riyadh, aiming to strengthen partnerships between fund-affiliated companies and the private sector to achieve local economic growth. Rua Al Madinah Holding provided several opportunities for investors during the forum.
Under the first contract with Jacobs, design services will be provided for 12 hotel brands in the fourth Super Blocks, along with large spaces to support the establishment of restaurants and cafes managed by various global operating companies, making this block one of the most attractive and largest within Rua Al Madinah project, containing more than 8000 rooms. According to the second contract, KEO International Consultant will oversee the implementation of the fifth Super Block and deliver it according to the highest international standards and specifications targeted by the project.
Furthermore, the CEO, Engineer Ahmed W. Al Juhani, stated that 25% of the infrastructure works for Rua Al Madinah project have been completed. As part of the company’s endeavor to develop a comprehensive urban and developmental system within Rua Al Madinah project, it seeks to engage pioneers and experts in the real estate sector in all its sectors to provide a unique experience for visitors and guests. He affirmed that this will have a significant impact on enhancing the status of Madinah as a prestigious destination with a modern architectural system characterized by high quality of life and rich cultural experience.
It is worth noting that Rua Al Madinah project is one of the most important projects of Rua Al Madinah Holding, spanning a total area estimated at 1.5 million square meters. It aims to provide 47,000 hospitality units accommodating 149,000 visitors by 2030, in line with the objectives of the Hajj & Umrah sector, and Vision 2030 of facilitating the hosting of 30 million visitors.