Emir of Madinah inaugurates Public Investment Fund projects worth more than 55 billion riyals

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<Prince Faisal bin Salman bin Abdulaziz, Governor of Medina and Chairman of the Medina Development Authority, inaugurated yesterday evening the largest project of the Public Investment Fund of the Ministry of Finance worth 55 billion riyals, this project is held in the Medina region, which is one of a large group of projects proposed to develop Medina and compensate the facilities that were removed from their location after entering the project of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz for the great expansion of the Prophet's Mosque and its squares and associated elements, which aims to support its importance as a destination for visitors who come to it after performing the two pilgrimages of Hajj and Hajj.

Minister of Finance Dr. Ibrahim Al-Assaf stressed that the project inaugurated by Prince Faisal bin Salman, Governor of Medina, the Dar Al-Hijrah project owned by the Public Investment Fund in the Ministry of Finance is one of the giant and largest projects in the Kingdom and the first phase of infrastructure will be completed within 24 months and will contain public transportation means implemented in a different way, including metro and trains that link the project site to the heart of Medina, represented in the Haram area, the attractive part for hundreds of thousands of visitors targeted in this project.

Minister of Finance Dr. Ibrahim Al-Assaf On the sidelines of the press conference held after the inauguration ceremony, the Minister of Finance said that the largest project in the history of the Fund in a region that is one of the most important regions that the Custodian of the Two Holy Mosques pays special attention to, revealing some aspects of the project, whose investments are estimated at about 55 billion riyals.

The Minister of Finance stated that the project will serve many people in the Medina area and will provide job opportunities in addition to its long-term services that serve the people of Medina and its visitors.

<For its part, a press release from the Ministry of Finance stated that the project has an area of about one million six hundred thousand square meters and is located three kilometers southwest of the Prophet's Mosque, about (3) kilometers from Al-Miqat, and (900) meters from the Qibaa Mosque, and the project includes about one hundred administrative and residential towers to accommodate more than (120,000) guests distributed among (40,000) rooms of four and five class,000 four- and five-star rooms, categorized into typical guest rooms with a capacity of up to three beds per room, as well as business rooms and suites, and each hotel contains a spacious reception hall and waiting lounges with a unique architectural style, in addition to restaurants, cafes and business centers to meet the needs of all guests. The project also includes a building for the Ministry of Hajj and the Central Hajj Committee in Medina, overlooking the Hijrah Road, in addition to the administrative offices of the Hajj missions, the National Foundation for Guides, Tawafa institutions, the General Automobile Syndicate, the Travel and Tourism Agency, and medical missions, and the capacity of these offices combined reaches about (31,000) employees, and the lower floors have been allocated for parking lots in addition to electromechanical services, in addition to the design of the project.