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FINANCIAL NEWS
Saudi building owners lose USD532.95m in Haj season
12 Oct 2015
(MENAFN) Pilgrim accommodation owners allegedly lost USD532.95 million this Haj season due to the cut in pilgrim quotas because of the ongoing expansion work at the Grand Mosque in Makkah.
Makkah Chamber and Commerce and Industry Real Estate Committee said that investors in the real-estate sector need a public sector authority to deal with the accommodation of pilgrims.
“The authority should be responsible for distributing the pilgrims between the two cities, supervising their check-in and check-out, providing reports of head counts to building owners,” the chamber’s chief said.
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