Saudi Arabia's PIF-backed Rua Al-Madinah discusses masterplan
EXCLUSIVE: CEO Eng Khalid Bin Mohammed Al-Telmassane says company behind 160ha project to seek strategic partnerships
Saudi Arabia's Public Investment Fund-backed (PIF) master developer Rua Al-Madinah Holding Company hosted a two-day workshop as part of its development plans to boost the number of pilgrims to the Prophet’s Mosque in Madinah, with chief executive officer, Eng Khalid Bin Mohammed Al-Telmassane, telling Construction Week that the firm would enter strategic partnerships with property developers and investors for the project.
The workshop was attended by several government officials to discuss case studies and options to the design and implementation of the project.
The 160ha project's proposal includes the construction of a hotel, and commercial and residential projects, as well as the development of cultural centres such as museums.
“The participants of the workshop had contributed positively to the formulation of necessary standards and development controls to be adopted in the updated version of the masterplan and urban design,” Al Telmassane said.
“The agreed enhancements to the masterplan, urban designs, and transportation solutions will be worked on extensively, prior to the company and the relevant authorities giving their final approval of the masterplan and urban design for the Rua Al-Madinah development.”
At the time of its announcement of the company's formation, PIF said in a statement that the Rua Al-Madinah project would comprise 500 housing units and 80,000 hotel rooms, "increasing hotel capacity to receive 240,000 guests per day, in addition to increasing the number of prayer areas to accommodate 200,000 worshipers per day".
Its statement in October 2017 added: "The project will also take into consideration the sacred nature of the Prophet’s Mosque, and create a comprehensive system for pedestrian passages separated from the movement of vehicles, as well as update the public transport stations at the end of the pedestrian passages.
"The projects will create around 200,000 job opportunities, with an estimated annual contribution to GDP of $1.9bn (SAR7bn)."