HRH Crown Prince Mohammed bin Salman bin Abdulaziz, Chairman of the Council of Economic and Development Affairs and Chairman of the Public Investment Fund, unveiled the masterplan for the Rua Al Madinah Project coming up in the east of the Prophet’s Mosque.
The project is being developed and implemented by Rua Al Madinah Holding Company, a PIF company that specializes in development, operation, and real estate investment in Madinah.
A part of PIF’s efforts to develop and enable promising sectors, the project is in line with Saudi Arabia’s Vision 2030, said the statement from Rua Al Madinah.
Unveiling the masterplan, Crown Prince Mohammed bin Salman said the key development coming up on a 1.5 million sq m area near the main mosque features include multiple facilities to enrich the experience of Madinah residents and visitors and elevate the services offered to pilgrims as a modern Islamic and cultural destination. It has 63per cent green and open spaces and 37per cent built area, he stated.
Rua Al Madinah project is an extension of the support from the Kingdom’s leadership to Madinah to consolidate its position as a leading Muslim destination, he noted.
It boasts direct views of the Prophet’s Mosque and also includes 47,000 hotel rooms, in addition to green areas accessible to the public, with the master plan constituting 63per cent green and open spaces and 37per cent built area, he added.