Saudi Arabia launches grand real estate project in Medina

RIYADH, Aug. 24 (Xinhua) -- Saudi Crown Prince Mohammed bin Salman Al Saud unveiled Wednesday the development plan of a real estate project east of the Prophet's Mosque in the city of Medina.

The Rua Al Madinah Project, which came under the Saudi Vision 2030, was being developed by a namesake company that was launched under the Saudi Public Investment Fund and specializes in the development, operation, and real estate investment in Medina, according to Saudi Press Agency.

The project would be 1.5 million square meters in span, with 63 percent of which be open and green spaces, and was set to add over 47,000 hotel rooms.

The crown prince said it would expand Saudi's annual capacity of hosting Umrah pilgrims to 30 million by 2030.

The project would offer integrated transportation solutions, including nine bus stops for visitors, a subway station, tracks for self-driving vehicles and underground parking.

According to Saudi's General Authority for Statistics, about 6.5 million people from home and abroad registered to perform Umrah in 2021.