Al-Shamiya

LOCATION:

Al Shamiya Development Project is located north to Makkah Holy Mosque.

 

LAND AREA:

The total land area is 1,479,200 SQM (One Million Four Hundred Seventy Nine Thousands Two Hundred

square meters).

 

PROJECT DESCRIPTION:

The project concept is to constitute a partnership to redevelop the whole area, in a manner to conform

with its strategic location after removal of the random buildings at that area. The development activities

include all infrastructure services and residential units such hotels, furnished apartments and shops.

 

CURRENT STATUS:

The project master plan and design are completed, awaiting king announcement of the project. Once the

area is announced as development area, a joint stock company will be established for this purpose.

Al Shamiya Urban Development Co., 47% owned associate of Al Oula has been awarded the exclusive

rights to perform project design and master plan for whom it will acquire an equity stake in the Joint stock

company (5% - 10%)

 

COST:

The total expected cost of the project is US $ 8.5 billion.