Fahd Mohamad Saleh Alfawaz was appointed to his current position in October 2023. Established in 1988 to build up the areas around the Holy Mosque in Makkah, MCDC owns Makkah Hotel & Towers. In the first nine months of 2023, the company recorded total assets of $1.2 billion and revenues of $159.2 million. It had a market value of $2.8 billion as of November 14, 2023. MCDC also owned 7.5% of the Jabal Omar Development Company as of December 2023. Before joining MCDC, Alfawaz was the CEO of the Abdul Mohsen Al Hokair Group.