The Saudi Umm Al-Qura Development and Reconstruction Company announced today, Monday, the signing of three agreements with total investments amounting to 2.15 billion riyals (about 573 million dollars) during the Cityscape Real Estate Exhibition in Riyadh.
The Saudi News Agency said that the company that owns the “Destination Path” project announced the signing of an acquisition agreement with Scope International Real Estate Development Company to construct residential towers in Mecca in cooperation with international operators with investments amounting to 900 million riyals.
She added that the volume of future investments in the destination has reached about 40 billion riyals so far.
The agency quoted the company as saying that the move aims to “strengthen and develop the accommodation and hospitality sectors in Mecca… and improve the accommodation experience for pilgrims and Umrah performers.”
The company announced on the “Destination Path” project page on the