01 October 2019

Umm Al Qura for Development and Construction, a major Saudi group involved in the development projects in and around Makkah, has announced the appointment of Yasser Abuateek as its new chief executive officer.

An industry veteran, Abuateek has more than 20 years of expertise in the financial and real estate sectors and is the founder of a major real estate company in the kingdom. In addition, he has vast experience in corporate and retail banking sector.

In his new position, Abuateek will play a pivotal role in leading the company, which has started to develop the mega King Abdulaziz Road Project.

One of the largest real estate development projects in Makkah, King Abdulaziz Road Project will include housing units, hotels, retail shops, government service centres and metro stations, in addition to being right next to Haramain High-Speed Railway station, said the company.

The 3.6-km road extends from the borders of the Third Ring Road at the entrance of the Makkah Jeddah Highway on the west to the First Ring Road (the Jabal Omar Project) and spans a total of 1.25 million sq m.

The project is expected to  boost the transport sector and development in Makkah and facilitate the transport of pilgrims and visitors. It is designed to appeal to people of different lifestyles in the city by providing easier and more varied options for transport, shopping and residences.

What distinguishes King Abdulaziz Road Project from other developments in Makkah is that it provides the city’s real estate market with plots for sale or investment in prime locations with fully developed infrastructure in line with international standards, said the company.  

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• In brief

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