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Tourism and hotel investments announced for Saudi Arabia

posted | Thursday, 12 Apr 2012

Tourism and hotel investments announced for Saudi Arabia

A positive outlook for Saudi Arabia’s tourism industry was revealed by the Saudi Commission for Tourism & Antiquities (SCTA) in their latest report, which announced results from a research study as well as a number of new developments which it expects will bolster the country’s tourism industry.

 
In the report, SCTA reported that Saudi Arabia is set to attract 88 million visitors by 2020, which is in line to the SCTA’s plans to develop domestic and business tourism in the country, as well as further expanding religious tourism. The latter is expected to reach 15.8 million tourists by 2014, compared to 13 million in 2010.
 
Also announced were plans by Abdul Latif Jameel Real Estate Investment Company (ALJREIC) to invest around $3.2 billion to develop new hotels in Makkah and accommodate the growing demand for hospitality services, particularly during the Hajj and Ummrah seasons. Furthermore, ALJREIC is developing the Jabal Al Kaaba project, investing up to $3.2 billion in land and hotel construction. Once completed, the Jabal Al Kaaba Development Project is expected to deliver around 8,500 new hotel rooms in a cluster of hotels over the next few years.
 
In addition to this, ALJREIC is also launching a new Saudi hospitality brand, Anjum Hotels, which will be operated by the company’s hotel division teams, inspired by the Saudi Hijazi culture and up to date international hotels’ quality standards. Opening first will be Anjum Makkah, consisting of 1,795 rooms and suites and opening 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 and is facing the new gate of H.M. King Abdullah, after the Holy Haram major extension project.
 
Chairman, ALJREIC, Yousef Abdul Latif Jameel said: “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. Saudi Arabia is currently experiencing an unprecedented development period under the wise leadership of H.R.H. the Custodian of the Two Holy Mosques King Abdullah binAbdul-Aziz. The backlog consists mainly of government-backed projects, as well as other projects carried out by private investors such as ALJREIC, which is currently developing a total area of 54,000 square metres for five-star hotels in Makkah to help address the growing demand in the tourism industry.
 
We pay tribute to the country’s directives and development plans to expand the private sector’s role in the development of Saudi Arabia and we reaffirm our commitment to further contribute to the development of Makkah and Saudi Arabia in general,” Jameel concluded. 



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