Umm Al Qura for Development and Construction (Masar) signed three reservation agreements with the Wathiq Real Estate Fund to sell land with a total area of 7,387 square meters within the second zone of the Masar destination in Makkah for a total value of 441 million riyals.

Masar explained in a statement on Tadawul on Sunday that the value of the first plot was 145 million riyals, the second 143.7 million riyals, and the third 152.3 million riyals, indicating that the purpose of the sale is to develop residential units by the fund.

Wed, 24 2026

It pointed out that according to the reservation agreements, the fund will pay a deposit for each plot of land in exchange for the reservation, and it is planned to sign the final sale agreements during the validity period of the reservation agreements.

The company stated that the deal has a positive impact on liquidity resulting from receiving the deposit amount upon signing the reservation agreements, and a positive impact on financial results upon completion of the sale or at the end of the reservation agreements period.

Umm Al Qura for Development was established in 2012 to develop the King Abdulaziz Road project in Makkah, known as the 'Masar Destination'. Its current market value is 25 billion riyals. The Public Pension Agency owns the largest stake in its capital at 24%, while the Public Investment Fund owns more than 16%.