Jabal Omar Development Co, a Saudi Arabian developer, said on Sunday it has awarded construction contracts valued at SR1.49bn ($397m) to two local companies for the second phase of its Jabal Omar project.
The contracts awarded to Saudi Arabian Baytur Construction Co and Azmeel Contracting & Construction Corp include building four hotel towers, the company said in a statement to the Saudi bourse.
The duration of the works is 24 months, Bloomberg said, citing the statement.
A forest of high-rise buildings just next to the Grand Mosque is emerging, built by Saudi developer Jabal Omar and costing more than $5.5bn, where Hilton and others will open 26 new hotels and add 13,000 more rooms.
In December, developer Jabal Omar signed a loan agreement for SR3bn ($800m) with the finance ministry to complete some of its projects in Makkah.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.