The Saudi property company behind the first project of its kind in the conservative kingdom is hoping to attract religious tourists from around the world in the same way that sun-seekers have snapped up timeshare accommodation in holiday resorts.

The Manazel al-Haramain Programme, which has been approved as compatible with Sharia law by leading Islamic scholars, offers 5,645 luxury flats in four tower block developments currently under construction. One overlooks the Grand Mosque in Mecca and three are near the Prophet’s Mosque in Medina.

Essam Awadh, chief executive and managing director of the Manazel al-Haramain Company, said the studio, one and two-bedroom serviced apartments are available in multiples of seven days, with purchasers entitled to use their flat for the same week each year for 20 years based on the lunar Islamic calendar.

“Programme members need not make any prior reservation arrangements before their regular entitlement time — they just arrive and occupy the place,” he said. “All units will be equipped, furnished, managed and maintained according to five-star standards and will be completely refurbished every four years.”

Prices range from 9,000 to 250,000 Saudi riyals (£1,300-£36,000) for a 20-year lease according to the time of year chosen, the size of the apartment and whether it has a view of the holy mosques in each city.

High season includes the fasting month of Ramadan and the week of the Haj, the pilgrimage to Mecca performed annually by around two million Muslims, including 20,000 Britons.

Mr Awadh said his company was introducing the concept of timeshare, or “space-share” as he prefers to call it, to cope with an unprecedented demand from Muslims for accommodation in Islam’s holiest cities. Entrance to both cities is forbidden to nonMuslims.

Property prices in areas of Mecca and Medina overlooking the two holy mosques have now reached record levels, up to £50,000 a square metre, making them the most expensive cities in the world, he said. Yet studies conducted by market research consultancy AC Nielsen show the majority of property owners only use their homes for short periods each year, while over 70 per cent of visitors to Mecca and Medina only stay for around a week.

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