Jadwa Investment Company intends to add 900 hotel rooms to the hospitality sector for pilgrims by establishing its first real estate investment fund in Makkah, “Jadwa Aziziyah Real Estate Investment Fund”, which aims to develop two towers for housing the guests and pilgrims of the Holy House of Allah in the Aziziyah area of the Holy Capital with a total investment of SAR 440 million.

Jadwa Investment Company intends to add 900 hotel rooms to the hospitality sector for pilgrims.

“According to current indicators, we expect accelerated growth in the hospitality sector in Makkah in light of the government's huge efforts to develop infrastructure to serve visitors to the Holy Mosque,” said Tariq Al Sudairy, Managing Director and CEO of Jadwa Investment Company, adding that the project “comes in line with the company's strategy to contribute to the growth of the real estate development sector in the Kingdom, which in turn contributes to the diversification of Jadwa investments and aims to achieve rewarding returns for investors.”

Tariq Al Sudairy, Managing Director and CEO of Jadwa Investment Company.

<The expansion of the Grand Mosque is expected to increase its capacity to accommodate approximately 5.5 million pilgrims annually by 2020, compared to 3.In addition, the Saudi government is working on other mega infrastructure development projects, including the expansion of King Abdulaziz Airport in Jeddah, the construction of the Haramain train linking Mecca and Medina, the development of the Holy Sites train, and the Makkah Metro project. These mega projects will significantly increase the demand for hospitality services in Makkah, which is expected to exceed supply by 20 percent over the next three years.

The expansion of the Grand Mosque is expected to increase the capacity of the Grand Mosque by approximately 5.5 million pilgrims annually by 2020, compared to 3.5 million in 2010.