Makkah’s masterplan approval soon, need for 300,000 beds to meet Hajj demand: Mayor

Makkah Mayor Musaaed bin Abdulaziz Al-Daood, speaking to CNBC Arabia on the sidelines of the Cityscape Global exhibition in Riyadh

Makkah Mayor Musaaed Al-Daood said that the holy capital is reshaping its urban and economic identity, noting that the comprehensive masterplan for Makkah and the holy sites will be approved soon.

Speaking to CNBC Arabia on the sidelines of the Cityscape Global exhibition in Riyadh, he stated that more than 100 investment opportunities were announced during the event, mostly real estate, including three logistics cities, two automotive manufacturing cities, three industrial cities, group housing projects for workers, entertainment facilities, and park development initiatives.

He expects a substantial need for no less than 300,000 beds to meet the growing demand during the Hajj season.

Makkah is currently experiencing a shortage in the commercial sector, which led to the licensing of three new malls, with three major commercial complexes expected to enter the market in the next two years, Al-Daood said.

The Mayor also unveiled an upcoming investment project to be signed next Ramadan, spanning 500,000 square meters and estimated to cost $3.7 billion, marking the first major project to be implemented through a public-private partnership.

He highlighted that the partnership with Masar Destination represents a model of community collaboration to develop one of Makkah’s most vital intersections—the intersection of Prince Mohammed bin Salman Road with the Masar Destination entrance.