Makkah Construction and Development Company is a Saudi joint-stock company listed on the Saudi Stock Exchange 'Saudi Tadawul'. It was established by Royal Decree in 1988. King Fahd Bin Abdulaziz Al Saud laid the foundation stone for the company’s first project on October 21, 1988. Its headquarters are located in Makkah al-Mukarramah, and its activities include owning, developing, managing, and investing in properties adjacent to the Grand Mosque.
Makkah Construction and Development Company was listed on the Saudi Tadawul on October 20, 1989. Its shares are traded on the main market under the real estate management and development sector, with the name (MCDC), symbol (4100), and ISIN (SA0007879659).
Establishment of Makkah Construction and Development Company
Makkah Construction and Development Company (a Saudi joint-stock company) was established in accordance with the Companies Law, by Royal Decree No. M/5 dated June 27, 1988, with an initial capital of SAR1.355 billion, which was later increased to SAR1.648 billion.
Activity of Makkah Construction and Development Company
The company's main activity focuses on developing the areas adjacent to the Grand Mosque in Makkah al-Mukarramah by carrying out all necessary engineering works, including construction, development, maintenance, demolition, and surveying. It involves owning, developing, managing, investing in, purchasing, and renting properties near the Grand Mosque. The company executes these tasks either independently or through partnerships with other companies operating in the same field.
Makkah Construction and Development Company's first project, located around the Grand Mosque, consists of a commercial center that includes a prayer area accommodating twenty thousand worshippers and residential hotel towers. Makkah Construction and Development Company manages and operates the commercial center, while a global hotel company manages the hotel, towers, and parking facilities.
The land area of the company's first residential and commercial complex in Makkah al-Mukarramah is approximately 13,869 m, overlooking the Grand Mosque. The total built-up area is around 228,000 m.
Makkah Construction and Development Company is the largest shareholder in the capital of Jabal Omar Development Company, which oversees the Jabal Omar Development Project located on Ibrahim al-Khalil Street in Makkah al-Mukarramah.
Achievements of Makkah Construction and Development Company
The company's first residential and commercial complex has received several awards, including two international awards from UNESCO, and an award from Dubai Municipality for best practices in improving living conditions, developing slums, and water conservation, as a pioneering experience in the Kingdom. The company won the award in competition with 650 projects submitted by 140 countries. Additionally, the complex received the Best Architectural Project in the Holy Capital award in 1995, presented by the Saudi Society for Urban Sciences in Makkah al-Mukarramah.
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