New projects in the central area of Makkah has led Saudi and Gulf businessmen to renting out housing units in hotels
overlooking the
Grand Mosque for long-term
lease of up to 15 years, Makkah daily reported. Dealers in the hotels sector estimate the percentage of rented units according to the
lease system at 5 percent of all housing units in the vicinity of the
Grand Mosque. Deputy Chairman of the Hotels Committee in Makkah Chamber of Commerce and Industry (MCCI) Yasser Hariri said: "The leasing system has been there for many years, but in the beginning it was restricted to two or three hotels.
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