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FINANCIAL NEWS
Haram expansion project demolishes 2250 properties
23 Dec 2010
(MENAFN) Assam Al-Turaimi, deputy chairman of the committee overlooking the Haram expansion, said that under the first phase expansion of the northern courtyard of the Grand Mosque, the demolition of around 2250 properties is almost completed, reported Arab News.
Al-Turaimi said that demolished property owners received around $8 billion as compensations. He also said that once some formalities are completed, the rest of compensations will be paid. He also said that the second phase of the project would include demolishing 961 further properties thus making this project the largest one so far for the expansion of the Grand Mosque.
The expansion will extend to cover 370,000 square meters and thus would accommodate 500,000 more worshippers in the Grand Mosque. It includes building new hotels, residential facilities, commercial centers and public utilities.
This project was ordered by Custodian of the Two Holy Mosques King Abdullah two years ago as a step to enable more worshippers to visit the Grand Mosque.
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