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Shopping haven: Saudi's holy city set for retail bonanza from pilgrim influx - report

Shopping haven: Saudi's holy city set for retail bonanza from pilgrim influx - report

Makkah is likely to see increased investment in its retail sector in the coming years, as the number of pilgrims to one of Saudi Arabia’s holiest cities increases exponentially, according to a new research paper published on Monday.

Real estate consultancy firm Colliers said the city is undergoing a strategic overhaul in a bid to hande a 223 percent surge in anticipated visitor numbers over the next 13 years to meet the kingdom's Vision 2030 target of handling 39.1 million visitors by 2030. Visitor numbers to the city last year were 12.1 million, according to Colliers' estimates.

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Currencies & Commodities



Hamza Betraoui

Dubai rents still falling, but what happens next?

Questions remain over market's future direction post-Expo 2020

Hussein Sayed

Investors await China's response

Trump takes the trade war with China to a new level

Jameel Ahmad

Indian Rupee declines towards all-time lows

emerging market currencies: South African Rand to remain volatile this week

Eirini Tsekeridou

Turkey: Q2 GDP data shows slowing economy

The lira depreciation helped spur a recovery in exports

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