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Makkah Park Lease Plan
Makkah Construction and Development Company has signed a 25-year lease with Al Balad Al Ameen Company for the land at Al-Misfalah Park in Makkah, at an annual rent of SAR 25.8 million, to develop it into an integrated tourism and commercial destination. The site covers more than 109,000 square meters and is about 900 meters from the Grand Mosque. The project will include green spaces, shops, restaurants, seasonal kiosks, a mosque and family facilities. Rent will increase by 10% every five years, with a total grace period of 30 months. The financial impact is expected to be reflected after development is complete and operations begin.
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