The Jabal Omar development project in Mecca is expected to be one of the largest construction projects in an area of 40 hectares and at a cost of $4.4 billion. The project combines hotel towers and high-rise residential buildings. The project will be able to accommodate up to 36,000 visitors annually, with a maximum capacity of 100,000 during the Hajj season. The project is divided into eight phases and will witness the construction of twin adjacent hotel towers, and areas designated for worshipers. In total, there will be 40 hotel towers in an area estimated at approximately two million square meters, and Shuaa Capital, the company developing the project, will issue five-year sukuks worth $135 million as part of a campaign to finance large projects in Saudi Arabia.
