By Akram Medhat
Saudi Arabia is resuming work on one of the largest hotel projects in the world, the "Abraj Kudai" project in Mecca, where construction had been halted since 2015 due to financial difficulties.
The project includes about 10,000 hotel rooms, 70 restaurants and several helipads, in addition to a section dedicated to the ruling family of the Kingdom of Saudi Arabia.
According to "CNBC Arabia", analysts said the renewal of plans for the government-funded project reflects Riyadh's renewed readiness to spend on strategic economic development projects in several sectors, most notably tourism.
Informed sources said subcontractors have received requests to submit price offers to the Binladin Group by mid-September, according to several news websites.
It is worth noting that Saudi Arabia announced at the beginning of this month the launch of a huge tourism project that includes turning 50 islands and a number of sites on the Red Sea coast into tourist resorts, stretching 180 km between the cities of Umluj and Al Wajh on the Kingdom's western coast. The Public Investment Fund will finance the project before opening it to foreign investors, according to the Saudi Press Agency.
Construction on the project will begin in the third quarter of 2019, in a first phase during which the airport will be expanded and luxury hotels and homes will be built, with completion expected in the third quarter of 2022.
