Madinah Sees 8.6% Growth in Commercial Registrations Across Key Sectors

KSA, 6 September, 2024 : Madinah experienced an 8.6% surge in commercial registrations across 20 sectors during Q2 2024, according to the AlMadinah AlMunawarah Chamber. The transport and storage sector led with 19.1% year-over-year growth, followed closely by construction, which saw an 18.8% increase, reaching 11,865 new registrations.

Economic activities in the region grew overall, with notable expansions in mining (12.7%), restaurants and catering (7.5%), vehicle maintenance (6.9%), and communications (6.6%). Tourism, car rental, and agricultural activities also recorded gains.

Wholesale and retail trade grew by 3.9%, while arts and entertainment activities increased by 3.2%. However, real estate saw only a 0.4% growth, and educational activities posted a modest 1% rise. The financial, health, professional, and social services sectors saw declines.

A total of 61,833 commercial registrations were recorded, with 92% concentrated in Madinah and the rest distributed across Al Ula, Al Henakiyah, Al Mahd, and Khaybar.

Source : www.zawya.com