Riyadh - Mubasher: Makkah Construction and Development Company has invited its shareholders to the 40th ordinary general meeting (OGM), scheduled for 13 October 2026.
The meeting, to be conducted via modern technology, will address several significant financial and administrative items, including the ratification of high-value contracts involving board members.
Shareholders will vote on a SAR 880 million bridge financing agreement with Bank AlJazira for a duration of three months. The board also seeks approval for a SAR 371.97 million contract with Innovative Roots Industrial Company for hotel and tower renovations, a transaction in which Chairman Saleh Mohammed bin Laden holds an indirect interest.
Additional agenda items include the approval of lease agreements for commercial center showrooms. These involve Diaa Al Nusk Company for SAR 4.44 million and Ziyad Bassam Mohammed Al Bassam Establishment for SAR 990,840.
The assembly will also vote on authorizing several board members to participate in businesses competing with the company’s activities in real estate development, hospitality, and retail.
Electronic voting for registered shareholders is set to begin on 9 October 2026.
