Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi - For Makkah tenants it's time to vacate for Haj pilgrims  Join our daily free Newsletter

MENAFN - Arab News - 22/08/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) Several landlords in Makkah demand that their tenants leave their apartments during Haj for them to rent them out to pilgrims.

According to leasers in Makkah considered one of the most densely populated cities in the Kingdom several landlords accept earning low annual rents for their housing units as long as residents leave their flats during Haj.

These apartments are rented out for 10-month terms and then leased to pilgrims during the peak season.

'These are our high seasons. We make more money renting out apartments during Haj than we do throughout the whole year' said Abu Siraj a landlord in Makkah.

'We ensure that tenants are well-aware of this seasonal rent agreement before they sign the contract' he told Arab News.

Several building owners in Makkah take advantage of the busy season to make extra profits while residents also take advantage of low rents throughout the year.

'I accepted leaving my flat during Haj season because I don't pay much throughout the year and can take advantage of this period to visit Jeddah or Madinah' Ali Al-Hadeedi a Yemeni resident living in Makkah told Arab News.

Daily rates during Haj can reach SR1000 which are paid by Haj service establishments.

Abdallah Nasr Al-Deen who owns a residential building in the Al-Azizyah district in Makkah agreed with his tenants to vacate their apartments in exchange for a low annual rent of SR20000.

'I provide housing services to pilgrims for SR800 a day. Most building owners in Makkah do the same during Haj' he told Arab News.

The average Haj pilgrim spends SR2500 on housing. Pilgrims who stay around central Makkah pay anywhere between SR4000 and SR7000 while worshipers who are lodged further away pay between SR1000 and SR2500.

 


Arab News




  MENA News Headlines
 Jan 25 2015 - Oman's Suez subsidiary signs USD37m landfill contractMENAFN
(MENAFN) Suez Environment via its local subsidiary Sita Al Basheer has won a contract to design, build and operate the expansion of the landfill site for five years. The total amount of the contract ...

 Jan 25 2015 - Saudi- Kingdoms economy expected to expand 3.22 this yearArab News
(MENAFN - Arab News) DUBAI: Cheap oil will slow growth in most Gulf Arab economies this year but heavy spending by governments and healthy private sector activity will prevent any serious slump a ...

 Jan 25 2015 - Egypt awards USD112.04m contract for rail systemMENAFN
(MENAFN) Egyptian National Railways (ENR) said that it has awarded Alstom a USD112.04 million contract for the supplying of signaling equipment for the Beni Suef-Asyut line in Egypt, as well as its ...

 Jan 25 2015 - UAE's inflation hits 6-year high in DecemberMENAFN
(MENAFN) According to the figures released by the United Arab Emirates National Bureau of Statistics, the increase by more than 5 percent in the housing and utility costs led the UAE's inflation rate ...

 Jan 25 2015 - Dubai's Drake & Scull unit wins USD49m contractMENAFN
(MENAFN) Dubai's Drake & Scull International (DSI) said that one of its subsidies won a USD49 million engineering contract in the emirate, Gulf Business reported.Under the signed contract, the ...

 Jan 25 2015 - Dubai's Deyaar net profit down 43 percent in Q4MENAFN
(MENNAFN) Dubai's Deyaar Development said that it has registered a decline by 43 percent in its net profit during the October-December period of 2014, Gulf Business reported.During the fourth quarter ...

 Jan 25 2015 - Renault's GCC sales up 44 percent in 2014MENAFN
(MENAFN) Renault announced that it has registered a 44 percent increase in its sales within the region during 2014, which led by Dubai resulted in the manufacturer selling 23.626 vehicles, Emirates ...

 Jan 25 2015 - Sharjah firm to build solar power plantMENAFN
(MENAFN) Bee'ah, a Sharjah-based waste management company, announced that it is planning to build a solar power plant in the emirate with a capacity to generate more than 20 megawatts, Emirates 24/7 ...

 Jan 25 2015 - Bahraini JBG invest USD2.44m on expansion in GCCMENAFN
(MENAFN) Bahrain-based Jawad Business Group (JBG) announced that it was planning to expand its business in the UAE and the GCC by opening 10 new stores this year, with an investment of over USD2.44 ...

 Jan 25 2015 - Dubai Arabtec wins USD152m contractsMENAFN
(MENAFN) Dubai's Arabtec Holding announced that it has won two contracts in Abu Dhabi, through its Target Engineering unit, with the contracts having a combined value of USD152.5 million, Emirates ...

more...


 






Google

Electronic & Mobile Payment

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help