Construction work to start by Saudi’s PIF on $14.6bn Madinah housing project - infrabuddy.net

Construction work to start by Saudi’s PIF on $14.6bn Madinah housing project

The Saudi Arabian Ministry of Finance, The Public Investment Fund  is all set to start the  construction work on the SAR55bn ($14.6bn) housing project in Madinah  spreading across 1.6 million sq meter areas south of the Prophet’s mosque, halfway between it and Al –Meeqat and Quba Mosques.   

The scope of the work involves the development of 20 administrators and 80 residential towers which will be constructed in two phases. The first phase involves preparing the required infrastructure for the projects at the cost SAR 12bbn ($3.1bn). The phase II of the project involves the construction of the towers, which will more than 30 stories high, before the upcoming Haj. 

The Madinha house will accommodate around 120,000piligrims in more than 40,000 rooms of its 76 four and five star hotels having the additional feature of a 400-  bed hospital, catering facilities, restaurants, shops, a monorail station and a luggage transportation station, where the  pilgrims can hand over their luggage and receive after reaching their destinations.