Latest news with #MadinahChamber
Zawya
07-07-2025
- Business
- Zawya
Madinah's contracting sector soars with 31% growth in 2024
The contracting sector in Saudi holy city Madinah recorded significant growth in 2024, with a 31% jump in activity compared to the previous year, said a report. This was mainly driven by a combination of factors including the launch of a number of mega-projects across the region, extensive expansion and maintenance work at the main mosque and surrounding facilities, reported SPA, citing a recent report from the Madinah Chamber. Also the strong government support for housing and real estate initiatives helped boost the contracting sector's growth. Madinah Chamber in its report highlighted the key drivers behind the boom in the contracting and construction sector. These factors comprise a surge in real estate investments, growing demand for both residential units and commercial complexes, and an overall improvement in the business and investment climate, stated the SPA report. Streamlined licensing processes for both local and foreign contractors, along with heightened market competition, have also played a crucial role in fostering this impressive growth. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Arab News
01-07-2025
- Business
- Arab News
Madinah's logistics sector grows 190% amid $57bn development push
JEDDAH: Commercial registrations in Saudi Arabia's Madinah transport and storage sector rose from 970 in 2019 to 2,817 by the end of 2024, reflecting strong five-year growth in the logistics industry. The 190 percent growth over the period also translates to an average annual increase of 38 percent, according to a recent economic report issued by the Madinah Chamber of Commerce and Industry. The analysis, also published by the Saudi Press Agency, emphasized that this expansion reflects growing investor interest and highlights the effectiveness of the region's investment environment, as well as the local market's capacity to accommodate increased activity in transport and storage. It also further affirmed the sector's pivotal role in supporting commercial, industrial, and tourism-related activities in the region. Madinah's emergence as a logistics hub is underpinned by a well-developed infrastructure network, including three airports, an extensive highway system linking five regions, the Haramain High-Speed Railway, and two key ports — one commercial and the other industrial. This strategic connectivity facilitated nearly $1.1 billion in non-oil exports and over SR5.25 billion ($1.40 billion) in imports in 2021. The region's broader economy has also shown significant momentum, with the hotel sector recording a 42 percent year-on-year increase in 2024, and tourism-related enterprises, such as organized travel and tour services, expanding by 33 percent. 'The sector's accelerating activity coincides with the implementation of major development projects in Madinah, with a total estimated value exceeding SR213 billion,' SPA stated. It added that these projects span multiple sectors, including infrastructure, urban expansion, and tourism services, as well as the Madinah humanization initiative, and transport and logistics, noting that these initiatives aim to streamline supply chain operations and enhance connectivity between development sites within and beyond the city. The report further stated that the rise in commercial registrations also signals growing interest from investors and entrepreneurs in this field, which serves as a central link in production and distribution chains. 'It provides a favorable environment for the development of logistics services and the advancement of modern transport capabilities.' SPA report added. The news agency concluded that these indicators confirm that the transport sector has become an integral component of Madinah's economic structure, contributing to the integration of development projects and supporting stability and growth in the local market. An earlier report by the region's chamber on the first quarter of 2025, released in May, highlighted positive transformations in the area's economy. The region's gross domestic product reached SR57.6 billion in the third quarter of 2024, reflecting a 2.8 percent growth compared to the same quarter of the previous year. Madinah also recorded the second-highest growth rate in local demand at 11 percent, based on point-of-sale transactions, following Riyadh. The first quarter report revealed a drop in the region's unemployment rate to 8.4 percent in the fourth quarter of 2024, down from 10.3 percent in the previous period, as employment rose to over 458,000, with economic activity concentrated in construction, trade, and manufacturing. The study also revealed progress in major development projects across the Madinah region, with around 213 projects under implementation, valued at over SR210 billion. 'These include 188 private sector projects and 15 government projects. The total investment land area allocated for these projects exceeds 15 million sq. meters, with expectations of generating over 119,000 future job opportunities,' the release stated. It added that the commercial sector accounted for the largest share of these projects, with 153 developments, followed by 27 mixed-use residential-commercial undertakings. Other initiatives spanned the healthcare, education, tourism, and religious sectors.
Zawya
20-06-2025
- Business
- Zawya
Number of visitors to Madinah jumps 18.7% in 3 years, reaching 18mln in 2024
MADINAH - The tourism sector in Madinah has witnessed significant growth of 18.7 percent in visitor numbers over the past three years, receiving more than 18 million visitors in 2024, compared with 14.1 million in 2023 and 8.2 million in 2022. According to a report issued on Wednesday by the Madinah Chamber of Commerce, activities related to accommodation, travel agencies, and tour operations recorded an 18.7 percent increase in 2024 compared to the previous year. The report highlighted the sector's vital role in supporting economic growth and increasing the gross domestic product (GDP) through tourism spending on lodging, transportation, shopping, and other services, while also creating job opportunities in tourism-related activities and contributing to sustainable economic diversification. The chamber report outlined the key assets of Madinah's tourism sector, noting that the city is home to around 400 religious, historical, and cultural landmarks that attract visitors from across the globe. These include the Prophet's Mosque, major historic mosques, various museums and exhibitions, modern tourist destinations, and restored historical sites open to the public, such as valleys, wells, and archaeological locations—forming a major driver for tourism development in the region. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Argaam
19-06-2025
- Business
- Argaam
Madinah receives over 18M visitors in 2024
The tourism sector in Madinah has witnessed a remarkable growth in the number of visitors over the past three years, with the holy city receiving more than 18 million visitors in 2024, compared to 14.1 million visitors in 2023 and 8.2 million visitors in 2022. According to a report issued by the Madinah Chamber, the activities of the accommodation sector, travel agencies, and tour organization saw an increase of 18.7% year-on-year in 2024, state-run Saudi Press Agency reported. The report highlighted the importance of the tourism sector in Madinah in supporting economic growth and boosting GDP through tourism spending on accommodation, transportation, shopping, and other services, in addition to creating job opportunities in the sector's activities and achieving sustainable economic diversification.
Arab News
31-05-2025
- Business
- Arab News
Madinah leads Saudi organic aromatics market
RIYADH: Madinah has solidified its position as the Kingdom's largest producer of organic aromatic plants, contributing 78 tonnes — 26.4 percent of the national total of 296 tonnes. This reflects the region's strong agricultural productivity and its key role in medicinal and aromatic plant cultivation, the Saudi Press Agency reported. A recent report by the Madinah Chamber of Commerce detailed the national landscape, showing Qassim as the second-largest producer with 15.9 percent, followed by Riyadh with 14.9 percent and Jazan with 14.7 percent. Together, these four regions account for approximately 72 percent of the Kingdom's total organic medicinal and aromatic plant production, the SPA reported. The report outlined cultivated areas, with Madinah leading at 37 hectares, followed by Qassim with 36, Riyadh with 35, and Jazan with 34 hectares — underscoring strong regional competition in the sector. Madinah mint was identified as the region's most prominent organic aromatic plant, valued for its strong aroma and distinctive flavor, according to the SPA. Its cultivation is deeply rooted in the region's agricultural heritage and presents attractive investment opportunities at various scales. Other aromatic plants grown in Madinah include basil, henna, and moringa. The report also highlighted broader investment opportunities within the aromatic plant production sector.
