Rua Al Madinah project to add $37m to GDP, will create 93,000 jobs: CEO
The Rua Al Madinah project launched by Crown Prince Mohammed bin Salman will add SR140 million ($37.25 million) to Saudi Arabia’s gross domestic product upon its completion, according to its CEO.
Ahmad Al Juhani added the project will create 93,000 direct and indirect job opportunities, while allowing recruitments throughout the construction and development phase until 2030, Al Ekhbariya TV reported.
The project, which will be developed by the Kingdom’s Public Investment Fund-owned Rua Al-Madinah Holding Co., will span 1.5 million square meters — of which 63 percent will be open and green spaces — and feature 47,000 hotel rooms.
Located to the east of the Prophet’s Mosque, the project will also have nine bus stops, a metro station, tracks for self-driving vehicles and underground parking to provide easy access to the mosque and the surrounding residential and commercial developments.
During the launch of the project, the crown prince, who is the chairman of both the Council of Economic and Development Affairs and the PIF, said the Rua Al-Madinah project will help to raise the hosting capacity for Umrah pilgrims to 30 million over the coming years.
Rua Al-Madinah Holding said that the project will help achieve the goals of the Hajj, Umrah, and travel sectors outlined in Saudi Vision 2030, along with reviving the city’s cultural heritage, according to a Saudi Press Agency report.
The project also aims to elevate Madinah’s status as a modern Islamic and cultural destination for pilgrims, while improving the quality of life for the city’s residents.
The Rua Al Madinah project will also showcase several historical monuments that are connected to the legacy of Prophet Muhammad and his companions.
The SPA report also added that the holy city’s unique heritage and culture will be reflected in the designs of buildings and facilities in the project.