AI Summary
- Makkah Construction and Development Co. signed a SAR 372 million contract with Roots Innovative Industrial Company for the renovation of rooms and public areas at Makkah Hotel and Towers.
- The project will be executed in successive phases from July 2026 until January 2028, with work scheduled to ensure the asset remains fully available during Ramadan and Hajj seasons.
- Renovations are expected to increase the total room count from 824 to 883 keys in the Towers and from 609 to 619 keys in the Hotel upon completion.
- The financial impact will be recorded as capital expenditure over the implementation period, with Board Chairman Saleh Mohammed Bin Laden identified as a related party.
Full text is available on the exchange website.