Makkah gold sales drop 70%
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Makkah gold sales drop 70%

Makkah gold sales drop 70%

Gold sales in the holy city of Makkah have dropped by 70%, as traders and investors moved away from the main area of the Grand Mosque and failed to take advantage of the purchasing power of Umrah pilgrims, Arab News has reported. "There should be diversification and comprehensiveness in the licensed shops within the central location that surrounds the area of the Grand Mosque," said Ziyad Farsi, deputy chairman of the Makkah Chamber, adding that this has led to a drop in the sales of many shops and business activities and reduced income as a result. "Personally, I think that part of the problem is the high rental prices of land around the premises' of the Grand Mosque, with prices reaching more than SR2m," noted Farsi.

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    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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