Makkah Construction and Development Company
Saudi Arabian Stock Exchange-listed Makkah Construction and Development Company established in 1989.
The company was founded to build up the areas around Makkah Holy Mosque, own, develop, operate, and invest in the real estate around the mosque as well as carry out all engineering works, survey, demolishing and constructions works for the company projects.
The company is the largest shareholder in Jabal Omar Development Company (JODC), known for its Jabal Omar megaproject on Ibrahim Al-Khalil Street in the Holy City of Makkah.
In 2021, Makkah Construction and Development Company recorded a revenue of $42.7mn (SAR160mn) compared to $32.7mn (SAR123mn) in 2020.
The firm also achieved a profit of $1.1mn (SAR4mn) after incurring a loss of $15.7mn (SAR59mn) in 2020.
The net profit was recorded on the back of increase in the revenues of the shops in the malls it operates.
Led by Seraj Hamzah Abdullah Ateeq as the CEO, the company constructed the first commercial and residential complex the Makkah Holy Mosque, comprising commercial centre, prayer hall for 20,000 people, towers and hotel.
Charied by Abdul Rahman A Kader Mohamad Fakieh, the company provides services to the commercial, residential assets, and undertakes the operation and management of Makkah Hilton Hotel and Makkah Hilton Towers.
