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Property Prices to Soar Due in Makkah.

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  • Property Prices to Soar Due in Makkah.

    Property Prices to Soar Due to Grand Mosque ExpansionDemolitions Begin to Make Room for More Worshippers
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    Re: Property Prices to Soar Due in Makkah.

    Expansion of Haram Ordered

    Custodian of the Two Holy Mosques King Abdullah has approved an expansion of the Grand Mosque’s northern courtyard, Prince Miteb, minister of municipal and rural affairs. Prince Miteb said the project would include construction of pedestrian tunnels and a service station.

    The royal approval covers expropriation of real estate on the northern and northwestern sides of the mosque, covering an area of 300,000 square meters.

    “Special committees have begun estimating the value of real estate in the area in order to expropriate them for the purpose,” Prince Miteb told the Saudi Press Agency. “The technical team for the expansion will continue its work until the project is completed on time,” he added.

    Sami Al-Harbi, a businessman who owns property in Shamiya, said most buildings in the area have been constructed in a haphazard manner. “The areas of Shamiya and Sulaimaniya, located close to the Haram, have not witnessed any major expansions in the past”.

    Abdullah Sulaiman Al-Mushat, who owns hotels in Shamiya, said new real estate projects would spring up in the area in order to accommodate a growing number of Haj and Umrah pilgrims. He hoped the government would pay generous compensation to real estate owners in the area.

    Hani Al-Hazimi, another Saudi businessman, said expropriation of land in the area started some time ago and that people were being compensated generously. “Some have got more than SR100 million,” he added.

    Last year, the Presidency for the Two Holy Mosques Affairs implemented several utility and service projects at a cost of SR1.2 billion.
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