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الاقتصادية
Hajj boosts Mecca for Construction profits
Makkah Construction and Development Company's net profits increased by 20% in the second quarter of this year, reaching 173 million riyals. This growth was supported by improved performance in the hotel and tower sectors, which contributed an additional 18 million riyals, and by revenues from the Hajj sector, benefiting from seasonal timing and the effects of Eid al-Adha, with Hajj season accounting for 50% of the revenues. Quarterly revenues grew by more than 80%, exceeding 700 million riyals. Additionally, the shopping center activity rose by 18 million riyals, driven by increased demand for Umrah pilgrims ahead of the Hajj season. The companies demonstrated strong financial stability with a renewed financing agreement worth 880 million riyals.
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