MCDC

Makkah Construction & Development Company announced its financial results for the first half of 2025, reporting record revenues of SAR 624 million, up 16% from H1 2024, and net income of SAR 294 million, a 15% increase year-on-year. Earnings per share rose to SAR 1.47.

Growth was driven by strong performance in commercial mall operations, and an exceptional expansion in Hajj services, where the company served more than 64,000 pilgrims, up from just over 8,400 in the previous year. The commercial mall achieved a 99% occupancy rate and a 16% increase in average lease rates, reflecting the success of MCDC’s ongoing asset enhancement strategy.

Chairman Saleh Mohammed Bin Laden stated:

“On this occasion, I am pleased to present our half-year financial results. These figures not only reflect exceptional performance but also strongly affirm the strength of our financial position. Makkah Construction and Development Company has achieved record profits for the first half of the year, a milestone that fills us all with great pride and serves as clear evidence of the effectiveness of our strategy and the resilience of our well-established operations.”

CFO Ahmad Jaber highlighted that the company achieved 16% revenue growth and 15% net income growth, supported by robust operations across all segments. He noted that MCDC’s strong balance sheet, with a gearing ratio of -22% and a healthy cash position, provides a solid foundation to support future growth. He emphasized the company’s focus on enhancing its existing assets, improving margins in Hajj services, and exploring new opportunities to deliver long-term shareholder value.  

Makkah Construction & Development Company reaffirmed its commitment to sustainable growth, with plans for hotel renovations phased through 2029 and commercial mall enhancements forecasted to generate an additional SAR 60 million in annual income by 2026.