Crown Prince Mohammed bin Salman launched the King Salman Gate project in Makkah, a mixed-use development next to the Grand Mosque, aimed at improving services for pilgrims and residents, the Public Investment Fund said in a statement yesterday. The project will be developed by PIF-owned Rua Al Haram Al Makki Company. No details about the investment ticket or the completion timeline were announced.

The deets: The project will span about 12 mn sqm and will include residential, hospitality, commercial, and cultural facilities, with capacity for around 900k indoor and outdoor praying spaces. It will enhance access to the Grand Mosque through upgraded infrastructure and transport links, while preserving the city’s heritage by restoring and developing 19k sqm of historic sites. The project will also create more than 300k jobs by 2036.

More details: The project will reportedly include 50k branded residential units, 16k hotel rooms, around 39k parking spaces, and 200k sqm of retail spaces, Asharq reported. Ownership rights will be granted to all Muslims, according to the recently issued property ownership law for non-Saudis. Development timeline and sales and lease details will be announced at a later stage during the project progression.

Makkah’s newest large-scale project: King Salman Gate joins Masar Destination project, which spans 1.2 mn sqm strip in Makkah leading to the Grand Mosque all set with hotels, retail, residential and office space.

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