Sustained growth of the accommodation sector in Makkah
The real estate movement in Makkah is entering a new and exceptional phase in the real estate market, achieving significant growth, which may reach 500 billion riyals during the current year (2015), going to the hotel accommodation sector in and around the central area, and this revival coincides with the expected increase in the number of pilgrims and pilgrims to Makkah in the coming years, after the completion of the expansion currently being carried out by the government of the Custodian of the Two Holy Mosques in the Holy Mosque, to accommodate larger numbers in the future.
10 million pilgrims
10 million pilgrims revitalize accommodation hotels Reclamation of mountainous areas
The best real estate investment in the world
<The indicators predict that Makkah, specifically the central region, is one of the best places in the world in the volume of real estate investments, due to its strategic and unique location, as it is characterized by the specificity of investment, which is limited to citizens, and the specificity of ownership, which is also limited to citizens. These factors have enhanced the importance of professional real estate development in the region, and its expansion, in addition to that, real estate investments in Makkah are characterized by their ability to provide quality services in very narrow vertical geographical spaces, due to the geographical nature of the central region, which is surrounded by mountains and highlands from all sides, and this has enhanced the real estate investment in Makkah.More than 1200 hotels
<Followers of the real estate affairs in Makkah confirm that the hotel and tourism sector in the region is the highest growth in the world, in terms of hotel expansion and the volume of investments, and they estimate the rate of increase in the number of hotels in the region equivalent to 15% annually, and they expect the holy capital to break the barrier of 1200 hotels by 2020. Unlike the real estate markets in the regions of the Kingdom, where demand exceeds supply, the real estate market in the central region is characterized by a steady balance between supply and demand.
Last year's statistics
An official statistic issued in the last Hijri year stated that the number of tourist accommodation facilities that were licensed was 81 tourist accommodation facilities, with an increase in the number of new hotel rooms by 8 thousand rooms distributed in the neighborhoods of the Holy Capital and the central region, and the accommodation facilities were concentrated in Al-Aziziyah, Al-Ma'abada and Al-Masfala, bringing the number of licensed tourist accommodation facilities to 795 facilities, including 697 hotels, including 22 hotels Five-star hotels, 26 four-star hotels, 147 three-star hotels and 112 two-star hotels, while the rest were licensed and unclassified, and the number of housing units reached 98 housing units, including 3 units classified second class and 18 units classified third class, while the rest were licensed and unclassified, and the total number of rooms was approximately 155 thousand rooms, and construction operations continue to enhance these statistics.
