Abdul Latif Jameel Real Estate Investment Co. (ALJREIC) on Wednesday unveiled plans to invest 10 billion Saudi riyals (US$2.67 billlion) to develop new hotels in Makkah and accommodate the growing demand for hospitality services, the Saudi Gazette reported.
Yousef Abdul Latif Jameel, chairman of ALJREIC, said his company is developing the Jabal Al-Ka’ba project, which includes 4 billion Saudi riyals (US$1.1 billion) earmarked for hotel construction that will deliver 8,500 rooms over the new few years.
ALJREIC is also launching a new Saudi hospitality brand, Anjum Hotels, that is inspired by the Saudi Hijazi culture. Anjum will launch with the 1,795-room Anjum Makkah in the first quarter of 2013.