Hundred and fifty-three residential towers will be constructed in Makkah at an estimated cost of SR14 billion ($3.73 billion), said Saad ibn Jameel Al Qurashi, a businessman.

He said three international consultancies would present the studies and final designs of the project to the Makkah Development Authority for approval shortly. The project is designed to accommodate 350,000 pilgrims.
Qurashi said the residential towers would cover an area of 1.2 million sq m in Misfala neighbourhood in the central region of the holy city, adding that a joint stock company would carry out the project.
“Owners of real estate properties in the area will participate in the company, either by offering their land or selling them to investors,” Qurashi told Al Eqtisadiah business daily, a sister publication of Arab News.
The project, a brainchild of Qurashi, is located just 800 m from the Grand Mosque.