World's Largest Hotel With 10,000 Rooms And 70 Restaurants Could Cost $3.5bn, But When Will It Open?
Eustacia Huen , CONTRIBUTOR I cover food, luxury, and occasionally tennis (when Nadal is playing). Opinions expressed by Forbes Contributors are their own. FORBES Abraj Kudai—the $3.5-billion project expected to become the world’s biggest hotel (by room count) in Mecca, Saudi Arabia—may have trouble completing as scheduled by 2017. This is as result of the low oil prices last year, which according to a recent Gulf Business article, could be causing quite a ripple effect to the Saudi economy. As the owner of the Abraj Kudai project, the Kingdom of Saudi Arabia’s Ministry of Finance is also a prime customer of The Saudi Binladin Group (SBL)—one of the country’s largest construction companies. Naturally, the actions of the government directly affect SBL. So when the low oil prices began propelling the government “ to cancel or suspend projects and delay payments ,” SBL suffer...