Medina Chamber of Commerce highlighted during its participation in the Umrah and Visitation Forum the growth the region’s hospitality and tourism accommodation sector is experiencing, given the annual increase in the number of visitors and tourists coming to Medina.

On the forum’s closing day yesterday, Chamber Chairman Mazen Rajab highlighted promising investment opportunities in the hospitality sector in Madinah, amid coordinated efforts between government agencies and the private sector to achieve greater results in the tourism accommodation and hospitality sector, in line with the objectives of the Kingdom’s Vision 2030.

During the session, Rajab noted that the need for 79,000 additional hotel rooms in Madinah by 2030 is being met through the construction of pioneering projects to support the hotel and residential sectors in Madinah, most notably the “Al-Madinah Vision,” which is being built on an area of 1.5 million square meters in the central district adjacent to the Prophet’s Mosque, The project is considered a pioneering model for the development of smart cities that support the hospitality sector and promote human-centered urban design, alongside urban planning projects for smart cities, which are among the most significant investment drivers for the hospitality sector.

The Chairman of the Board of Directors of the Madinah Chamber of Commerce noted that the positive role of real estate investment funds—through the construction of 90,000 residential units in Madinah—is a key driver in accelerating efforts to meet the region’s needs for major hotel projects, as well as real estate development projects, noting that the decision to allow non-Saudis to own property within the geographical areas of Makkah and Madinah will bring about a qualitative shift in attracting foreign investment and accelerate the growth of the real estate development sector.

The Madinah Chamber of Commerce’s participation in the forum focused on efforts to strengthen partnerships and attract local and international investors to capitalize on the unique assets of Madinah, a global religious and tourist destination.