Rua Al Madinah (RAM) Holding is a governmental real estate development company owned by the Kingdom of Saudi Arabia's Public Investment Fund. The company's primary objective is to develop the areas surrounding the Prophet's Mosque, thereby improving its readiness to accommodate visitors through hotel, commercial, residential and cultural projects. Moreover, it aims to bolster the status of Medina.
The Public Investment Fund announced the establishment of RAM in the last quarter of 2017. The company's establishment is in line with the Saudi Vision 2030, which aims to increase the capacity to receive pilgrims, enrich their religious journey and cultural experience, and provide an opportunity for the largest possible number of Muslims to visit the Prophet's Mosque in order to prepare for hosting around 30 million visitors annually by 2030.
Roll-out of infrastructure and master plan for RAM project
In August 24, 2022, His Royal Highness Crown Prince and Prime Minister Prince Mohammed bin Salman bin Abdulaziz announced the launch of the infrastructure and master plan of Rua Al Madinah project. The latter was to be located east of the Prophet's Mosque, and developed and implemented by Rua Al Madinah Holding. The project is based on a total area of 1.5 million m. It aims to establish forty-seven thousand hospitality units by 2030, in addition to open squares and green areas that facilitate visitors' access to the Prophet's Mosque. Moreover, 63 percent of the project area will be designated as open areas and green spaces.
The project also includes nine visitor bus stations, one metro train station, an autonomous vehicle track and underground car parking to facilitate the movement of visitors to the Prophet's Mosque.
Rua Al Madinah Holding contributions
The company's work includes the development of an integrated ecosystem of hotel, commercial and residential projects. Moreover, it seeks to develop and prepare centers and museums to enhance the religious, cultural and historical aspects of Medina. RAM maintains the sanctity of the Prophet's Mosque, and facilitates access to it by creating an integrated system for pedestrian paths in order to separate them from the movement of vehicles, and developing public transport stations at the end of pedestrian walkways. Through the project, the company will contribute to the provision of about ninety-three thousand direct and indirect jobs. The project is also expected to add at least SAR140 billion to the local economy.
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