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Rua Al Madinah

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Rua Al Madinah
رؤى المدينة
LocationMedina, Saudi Arabia
OwnerPublic Investment Fund
FounderMohammed bin Salman
Key peopleMohammed AlKhalil (Chairman)
Naif Al Hamdan (Vice Chairman)[1]
Ahmad Al Juhani (CEO)[2]
Established24 August 2022; 2 years ago (2022-08-24)[3]
Websiteruaalmadinah.com

Rua Al Madinah (Arabic: رؤى المدينة) is an urban development project under construction in Medina, Saudi Arabia. The Rua Al Madinah project was developed by Rua Al Madinah Holding Company, one of the companies founded by the Saudi Public Investment Fund. The project was officially announced by Crown Prince Mohammed bin Salman in August 2022. Once complete, the project will allow Medina to host up to 30 million Umrah pilgrims by 2030.[4] The project will cover a total area of 1.5 km2.[5]

As part of Saudi Arabia's Vision 2030 to diversify the Saudi economy away from oil, Rua Al Madinah Holding Co. says that the project will create 93,000 jobs and contribute more than $37.25 billion to Saudi Arabia's national GDP by the year 2030.[6]

The first phase of the project is set to be completed by 2026. By 2030, Rua Al Madinah aims to construct 47,000 hotel rooms.[7]

History

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Central Jeddah was officially announced by Crown Prince Mohammed bin Salman on 24 August 2022 as part of Vision 2030.[8]

In February 2023, Hyatt signed a deal to open 3 hotels consisting of 1,729 rooms in Rua Al Madinah.[9]

In March 2023, Marriott signed an agreement to open 8 hotels in Rua Al Madinah, contributing to 4,400 rooms across different brands.[10]

In May 2023, Accor signed a deal to develop over 1,000 hotel rooms in the project.[11]

Islamic Civilization Village

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On January 8, 2024, Rua Al Madinah announced the Islamic Civilization Village, a cultural and education center themed around Islamic Heritage. The village consists of 8 cultural zones, including the Arabian Peninsula, Mashriq, Islamic South Asia, Maghrib, SEAN, the Silk Road, Al-Andalus and Africa. The village will cover an area of 257,000 m2.[12]

See also

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References

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  1. ^ "Board of Directors". ruaalmadinah.com. Rua Al Madinah Holding Co. 2022-08-24. Retrieved 2024-02-15.
  2. ^ "Executive Team". ruaalmadinah.com. Rua Al Madinah Holding Co. 2022-08-24. Retrieved 2024-02-15.
  3. ^ "Saudi Crown Prince launches 'Rua Al-Madinah' project". Arab News. 2022-08-24. Retrieved 2024-02-15.
  4. ^ Nihal, Mariam (2022-08-25). "Saudi Arabia launches vast Rua Al Madinah project near Prophet's Mosque". The National News. Retrieved 2024-02-15.
  5. ^ Zouiten, Sara (2022-08-29). "Saudi Arabia Launches Project to Host 30 Million Pilgrims by 2030". Morocco World News. Retrieved 2024-02-15.
  6. ^ "Rua Al Madinah project to add $37m to GDP, will create 93,000 jobs: CEO". Arab News. 2022-08-25. Retrieved 2024-02-15.
  7. ^ Levesque, Eva (2023-10-16). "Construction to start on Rua Al Madinah giga-project". AGBI. Retrieved 2024-02-15.
  8. ^ Al Sherbini, Ramadan (2022-08-25). "Saudi crown prince unveils Rua Al Madinah Project". Gulf News. Retrieved 2024-02-15.
  9. ^ "Three Hyatt Madinah hotels signed as part of religious tourism push". Hotelier Middle East. 2023-02-12. Retrieved 2024-02-15.
  10. ^ Kilburn, Hamish (2023-03-20). "Marriott signs agreement to open 8 hotels in Saudi Arabia". Hotel Designs. Retrieved 2024-02-15.
  11. ^ "Rua Al Madinah Holding signs an agreement with Accor to develop over 1,000 hotel rooms". Zawya. 2023-05-09. Retrieved 2024-02-15.
  12. ^ "Islamic Civilization Village project to boost visitor experience in Madinah". Arab News. 2024-01-08. Retrieved 2024-02-15. To cite an online news article
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