ALMQR Development Co., Saudi Arabia an investment arm of Madinah Municipality, announced in a statement that it has signed a strategic partnership agreement with Sumou Real Estate Co. to implement phase I of Al-Ghurrah project.
The value of the investment is SAR 816 million.
The project spans 289,000 square meters (sqm) on King Salman bin Abdulaziz Road. It includes a conference center, event halls, and trade fairs over 22,000 sqm.
The project includes 112 hotel rooms, as well as administrative and banking complexes, commercial investment centers, cinema halls, squares and entertainment complexes. It also includes a variety of brands of restaurants, cafes and parks over 8,000 sqm, in addition to 4,500 parking spaces.
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