The government is keen to create jobs and reduce its dependence on the oil sector by developing industries such as tourism, particularly Islamic tourism. “The Ministry of Finance is taking a lead role in the hotel project … This is positive for the banking sector,” one Saudi banker told Reuters.
The $3.5 billion hospitality project, Abraj Kudai, comprises of 12 towers with a total of 10,000 rooms, 70 restaurants, rooftop helipads, royal floors and a full size convention centre, all roofed under what will become one of the largest domes in the world. 2021. ROOMS >500. Abraj Kudai Facts. 6. A spokesman for the group could not be reached for comment, and the Ministry of Finance declined to comment. Sub-contractors have been asked to submit pricing proposals to Saudi Binladin by mid-September, sources familiar with the matter, who declined to be named, told Reuters. The state budget deficit shrank to SAR46.5bn ($12.4bn) in the April-June period from about SAR58.4bn a year ago, Ministry of Finance data showed on Sunday.
Abraj Kudai Complex Download PDF. ABRAJ is a Multidisciplinary Contractor specialized in providing EPC services basically to the Oil, Gas, Petrochemical, Chemical and Power Industries. The database shows that the largest project on the books in Saudi Arabia is the Abraj Kudai Towers in Makkah. In Google Chrome, click Print then check the Background colors and images box under the Options section. DUBAI (Reuters) - Saudi Arabia is set to restart work on one of the world’s largest hotel projects, the $3.5 billion Abraj Kudai in Mecca, where a financial squeeze halted construction in 2015. [fb_button] The hotel project Abraj Kudai in Mecca, Saudi Arabia, was halted for two years due to financial and other challenges that the Saudi Binladin construction conglomerate was facing. About Abraj Kudai Hotel in Saudi Arabia Principally this world’s largest hotel is under construction in Makkah, a spot in Mecca’s central zone. PROJECT PHASE. We take a look at what to expect when it opens in Makkah, Saudi Arabia, in 2017. Saudi state finances have strengthened somewhat this year because of moderately higher oil prices and cost-cutting. CONSTRUCTION DESCRIPTION. NUMBER OF CONTACTS. This grand hotel is Designed the architects of global construction leaders company Dar Al Handasah which is known for some great and mega building structures.
ALL RIGHTS RESERVED. OPENING. Under Construction. “With a clearer grasp on its finances, the government has allocated a portion of its budget towards completing key projects,” an executive in the Binladin group told Reuters. These include:- Texas-USA, Baghdad-Iraq, Amman-Jordan and Beirut, Lebanon. Services provided extend also to cover Major Infrastructure and Building Projects. COUNTRY. When completed, the Abraj Kudai is meant to have about 10,000 rooms, 70 restaurants, several helipads and a section reserved for the Saudi royal family. Saudi Binladin Group (SBG) has awarded Maytas Infra Saudi Arabia (MISA), a subsidiary of Indian company IL&FS Engineering and Construction Company Limited, a $77.45 million contract for structural and concreting works on the Abraj Kudai mixed-use development project in Makkah, Saudi Arabia.
Saudi Binladin Group is estimated by bankers to have debt of around $30bn and earlier this year its creditors agreed to extend a SAR4bn ($1.1bn) Islamic credit facility to pay for building work at Makkah’s Grand Mosque.
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