Business & Money | Thursday 28 July, 2016 4:43 am |

Jeddah Governor Prince Mishal Bin Majed said that the successful implementation of Ruwais development project will be the starting point of developing Jeddah’s oldest and underdeveloped neighborhoods into world-class urban districts. “The landlords and owners of properties in Ruwais have been given five options and they are free to choose anyone of them.
There won’t be any infringement on the rights of the landlords while developing the new district, and the government would not take any steps against their interests,” he said while addressing the first meeting of officials to start implementing the first phase of developing Rowais at his office in Jeddah on Tuesday, the Saudi Press Agency reported.
It was announced in the meeting that the project to develop Ruwais neighborhood will kick-start on Aug. 3.

Prince Misahl underscored the significance of developing underdeveloped neighborhoods while describing them as “black spot on a clean thobe.”
He said that these are development projects and are not at all commercial projects. “The state, represented by Jeddah Development & Urban Regeneration (JDURC) Company, is developing it and this is a company owned fully by the government and does not have any stake for the private sector,” he said, adding that the expropriation of properties will be carried out in line with an earlier decision of the Council of Ministers. The governor also highlighted the significant role of the media in disseminating correct information to the public with regard to the development of these neighborhoods.

Jeddah Mayor Hani Abu Ras, JDURC Executive President Ibrahim Kutabkhana, and other officials also attended the meeting.

Kutabkhana said Ruwais is among 52 underdeveloped neighborhoods in Jeddah that lack adequate infrastructure facilities and utility services. “There are several firms, which came forward to finance the project, including provision of compensation worth SR2300 billion for expropriation of properties, and building infrastructure and utility services in Ruwais. Prince Khaled Al-Faisal, emir of Makkah and advisor to Custodian of the Two Holy Mosques, has issued orders to start implementing first phase of the project and disconnecting electricity and other utility services in a phased manner,” he said adding that this directive will start enforcing from Aug. 3 onwards. He said the project includes over 6,500 housing units and other facilities for more than 63,000 people. “Priority will be given to the existing landlords to develop their properties themselves.”

According to Kutabkhana, the landlords can choose five options. They can develop the property by themselves or take part in developing with investing value of the property. The third option is to accept alternative housing in other developed neighborhoods while the fourth is to receive monetary compensation. The fifth option is combining more than one of the options in accordance with their financial capabilities.