Rua Al Madinah Holding signs contracts worth US $187mn
The company is working on a number of projects and aims to enrich the experience of visiting pilgrims to Madinah
US $187mn in contracts have been signed by Rua Al Madinah Holding, as part of its efforts to enhance local content, support small and medium enterprises, and boost local manufacturing and human capabilities, and help create direct and indirect job opportunities.
The company is tasked with undertaking holistic development projects that use modern urban planning in projects such as Rua Al Madinah, which is enhancing the experience of residents and visitors of Madinah.
CEO Ahmad bin Wusul Al Juhani stressed the importance of the signed contracts in supporting the company’s projects, especially the Rua Al Madinah project, the largest in its portfolio. The project aims to provide 47,000 hotel rooms by 2030.
He said Rua Al Madinah was actively working on several ambitious projects. He explained, “The goal is to enrich the experience of the visiting pilgrims to Madinah and help achieve the targets of the pilgrimage, Umrah, and visitation sector, and Vision 2030 by facilitating the hosting of 30m pilgrims by 2030.”
According to a report, the first contract involves the completion of existing towers in the Dar Al Hijra project, with a built-up area exceeding 450,000sqm. The scope of development includes implementing facade work for the existing towers, their infrastructure, and overall site development to prepare them for investment.
The second contract was signed by Rua Al Madinah with a security expertise firm in the field of security planning, operation, and supervision. The deal is aimed at securing the company’s offices, properties, project boundaries, and ensuring the smooth execution of security plans by supervising security contractor teams. Additionally, the company will provide technical support by reviewing submitted security plans to ensure they meet security requirements, the report noted.
The third contract was sealed with Saudi telecom giant STC for the implementation of the Rua Smart Cities Strategy. Billed as a key initiative, the deal aims to enhance the smart destination experience for visitors to the Rua Al Madinah project and improve qualify of life within the company’s hotels and locations, using advanced digital technologies, IoT-supported by artificial intelligence, and enhancing data efficiency.
Rua Al Madinah Holding also signed a MoU with the Saudi Industrial Cities and Technology Areas Development Authority (Modon) to co-ordinate the construction of a prefabricated concrete building units factory. The agreement includes conducting feasibility studies and action plans for the targeted projects, supporting business development by attracting value-added partnerships, and providing support and advice in implementing projects that serve the goals of both parties.
