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FINANCIAL NEWS
Saudi plans USD133b projects in Madinah
02 Dec 2014
(MENAFN) Saudi said it is currently planning or executing projects worth nearly USD133 billion in the Madinah city, including the massive expansion of the Prophet Mosque, Emirates 24/7 reported.
Beside the expansion of the Prophet Mosque, which is expected to cost of USD18.6 billion, there are a number of projects planned to be done in the city including Dar Al Hijra housing and services project at an expected worth of USD14.6 billion, the Madinah part of the Haramain high speed rail project at a cost of USD2.8 billion, the USD6.6 billion knowledge city and the expansion of Prince Mohammed bin Abdul Aziz Airport, which is expected to cost USD1.6 billion.
Other projects include the construction of a sport stadium at an estimated cost of USD400 million, which will be one of 11 stadiums to be built across Saudi Arabia with a seating capacity of 45.000 people.
“Madinah is witnessing the execution of giant projects, including the metro, the bus transport system, town development, and construction of houses,” Chairman of Madinah chamber of commerce and industry said.
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