Mecca is expected to attract investments of 100 billion SAR in building and construction field in the coming years due to the increasing government expenditure on upgrading infrastructure sector in the region.
A number of real estate experts mentioned that projects like Haram expansion, the new ring road, buildings and tunnels will spur economic performance in Mecca.
Maher Bin Saleh Jamal, chairman of Mecca Chamber of Commerce and Industry, said that for every billion SAR spent by the government the private sector will spend between 3.3 and 5 billion. The private sector rising investments will enable the government to double its spending on infrastructure projects which will benefit the real estate market in Mecca as a whole.
Jamal added that Haram expansion will increase the mosque occupancy to 1.85 million pilgrims providing them more comfort, which will attract more investments to the city.