Green Light in Makkah





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March 04, 2013
JEDDAH – Need for more investment in the hotel sector – especially in the two holy cities – was highlighted here Sunday on the second day of the Residential and Affordable Housing summit taking place on the sidelines of the Jeddah Urban Development and Real Estate Investment Event – Cityscape Jeddah.
Speakers at the summit said that despite the construction boom in Makkah more needs to be done to make hotels affordable and enough to accommodate the growing number of pilgrims.
Filippo Sona, Head of Hotels and Resorts/Hospitality MENA, Colliers International, said that the main drivers for religious tourism were mega projects like the Haramain Railway and the massive Jabal Omer Project.
According to a report published by Colliers International, there is a limited supply of quality internationally branded economy hotels in the Kingdom. Surveys show that there are currently seven notable cities without any such hotels, representing a significant gap in the market. However, many internationally branded economy hotels are coming up, with 1.182 rooms to be delivered to the market across the Kingdom by 2015.
Colliers International’s latest investigations have found evidence that the market could potentially absorb an additional 34,882 economy hotel rooms over and above forthcoming supply over the next five years, spread across major and secondary cities.
Attractive investment opportunities lie in wait as economy hotels operate with a very cost-efficient structure characterized by a less volatile and sustainable pricing strategy. Based on the current profitability ratios of existing economy hotels, new developments prove to be a lucrative investment, with potential IRR ranges between 18% and 21%.
Hussein Al-Harithy, Managing Director of National Exhibitions Company, said that the summit was specially designed as the perfect platform for hotel developers, investors, government officials, hoteliers and financiers to come together and share ideas, source new business contacts and shape strategies for maximizing and supporting growth of the Saudi Arabian hospitality industry.
Hotel development has emerged as one of the most attractive segments in real estate in Saudi Arabia. Driven by an average growth of 6% year-on-year on business and tourism and the government’s investment of SR100 billion in infrastructure and transportation projects, the opportunities to gain from high returns on hotels and overall boom in religious tourism throughout the Western province has never been more lucrative than now.
http://www.saudigazette.com.sa/index...20130304155333
Holy Mosque expansion progress






















MAKKAH – Experts from the United Kingdom, Pakistan, Turkey and other countries will discuss the ways to develop Makkah region, improve its infrastructure and solve the problems related to unplanned areas.
The two-day meeting at Umm Al-Qura University (UQU) will be inaugurated Saturday by Prince Khaled Al-Faisal, Emir of Makkah region.
Dr. Bakri Assas, UQU President, said the meeting organized by Prince Khaled Al-Faisal’s Chair for Development of Unplanned Areas will discuss gigantic projects to develop the region.
Dr. Nabeel Koshak, UQU undersecretary for creative work and supervisor of academic chairs, said the chair seeks to achieve sustainable development for the region. It also focuses on social, economic, environmental, and urban analyses.
Dr. Amjad Maghrabi, supervisor of the chair, said the chair studies the local and global development methods used for improving unplanned areas and applies these methods to local areas that need development.
“This chair is a shining example of knowledge-based economy which Custodian of the Two Holy Mosques King Abdullah has called for.”
The chair supports programs and research that help achieve its goals.
http://www.saudigazette.com.sa/index...20130309156018









Madinah, Rabi'II 29, 1434, Mar 11, 2013, SPA
Crown Prince Salman bin Abdulaziz Al Saud, Deputy Premier and Minister of Defense, will patronize on Tuesday the start of activities of the opening ceremony for the occasion of Madinah as the Capital of Islamic Culture for the year 1434 AH - 2013 AD.
The event will be organized by the General Secretariat of the occasion at the cultural tent constructed for this Islamic occasion next to the mosque of Quba.

Perimeter Quba mosque as it appeared yesterday
Prince Faisal bin Salman bin Abdulaziz, Governor of Madinah Region and Chairman of the Higher Committee of the occasion of Madinah as the capital city of Islamic Culture for the year 1434 AH -2013 AD, welcomed the visit of the crown prince and his patronage of the opening ceremony of this major Islamic cultural celebration.
Prince Faisal bin Salman bin Abdulaziz highlighted the importance of the occasion and the historical role of the city of Madinah in Islam.
He also asserted the care received by the city from all Kings of the Kingdom of Saudi Arabia since the era of the late King Abdul-Aziz until the present era of the Custodian of the Two Holy Mosques, King Abdullah bin Abdul-Aziz Al Saud.
http://www.spa.gov.sa/English/print.php?id=1086429
This cannot be undone and I am sure it will be greatly appreciated.
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