Jabal Omar Urban Development Competition
Makkah Construction and Development Company (MCDC)
The Jabal Omar project covers the construction of approximately 828,000m² of hotel, residential, commercial, and prayer built-up areas with their associated infrastructure and underground parking over a 230,000 m² site overlooking the Haram (holy shrine). The project spans over a period of 15 years.
The Client for the project is the Mecca Construction and Development Company.
The financial model is detailed and performs IRR (Internal Rate of Return) calculations for each development category: commercial, hotel, and residential - separately, as well as for the project as a whole. It also proposes to the Client two development scenarios based on the cost of land expropriation along a street immediately facing the Haram.