The real estate market in Mecca is expected to witness an unprecedented flourish starting from this year especially by finishing the expansion works taking place in the holy haram.
The market activity this year is predicted to reach 500 billion dollars expected to increase according to economic and real estate experts in the coming three years especially by the surge of annual pilgrims rates hitting 10 million visitor.
Haram expansion project in addition to Mecca ring road and the rail road linking between Mecca and Jeddah will add around 2160 new hotel rooms for the hospitality sector in Mecca.
Hospitality sector growth in Mecca is the highest internationally with annual growth of 15%. Experts expected Mecca to contain 1200 hotels by 2020.
Most of the hotel constructions take place in the four-star hotel ranks which attract 70% of visitors and pilgrims.