Mecca General Assembly Approves Agenda
Makkah Construction and Development Company announced its approval of all items on the agenda of its 40th ordinary general assembly, held on October 13, 2026, in Mecca, via the Tadawulaty platform. The approvals included delegating the Board of Directors with powers related to real estate development, hospitality, retail, and Hajj and Umrah services for a period of one year or until the end of the Board's current term, whichever is closer. Additionally, approvals were granted for contracts to renew the hotel and towers, amounting to approximately 372 million Riyals, as well as for a financing agreement worth 880 million Riyals with Al Jazira Bank, with an indirect interest for some Board members in these contracts, without any preferential conditions.
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