Masar Signs Reservation Agreements to Sell 3 Plots of Land Worth SAR 441.1 Million

Logo of Um Al Qura for Development and Construction - Masar

Um Al Qura for Development and Construction - Masar announced the signing of three reservation agreements for the sale of land plots with a total area of 7,387 square meters, not overlooking the pedestrian walkway, within the second area of the Masar destination in Mecca, with an agreed total sale value of SAR 441.1 million.

The company added in a statement on Tadawul that the signing was with Wathiq Real Estate Fund for Second Opportunities Limited (the special purpose company for a real estate fund managed by Wathiq Financial Company), for the purpose of developing residential units by the fund.

Below is the value of the three plots:

Value of the three plots (million riyals)

Plot

Value

First plot

145.00

Second plot

143.73

Third plot

152.37

Total

441.10

It explained that according to the reservation agreements, the fund pays a deposit for each plot against the reservation, and it is planned to sign the final sale agreements during the validity period of the reservation agreements, noting that the agreements expire on November 1, 2026.

The company expects a positive impact on liquidity from receiving the deposit amount upon signing the reservation agreements, and a positive impact on financial results upon completion of the sale or upon expiry of the reservation agreements.

It clarified that there are no related parties in the agreements, noting that any material developments regarding this matter will be announced.

According to data available on Argaam, Masar has sold and signed reservation agreements for the sale of several plots in the Masar destination project in Mecca since its listing on the main market, as shown in the following table:

Details of Masar's land sale deals in the Masar destination project

Announcement date

Land area (square meters)

Number of plots

Sale value

(million riyals)*

Book value of the asset

(million riyals)

June 29, 2025

2500.11

255.76

128.07

June 30, 2025

2359.27

145.33

71.89

July 9, 2025

5368.97

235.05

132.40

July 28, 2025

15573.84

628.46

341.81

August 17, 2025

2671.21

145.12

76.51

September 2, 2025**

5311.01

328.80

180.67

September 8, 2025**

4886.02

438.82

September 21, 2025

5500.08

275.00

145.70

October 1, 2025**

3835.31

220.61

November 17, 2025**

3000.00

227.22

November 18, 2025

2861.79

204.62

103.89

November 19, 2025**

6757.97

216.87

November 20, 2025**

3061.58

91.85

December 28, 2025

7408.58

228.41

93.39

February 12, 2026

2915.80

89.46

40.30

May 19, 2026

4487.38

210.76

100.01

June 21, 2026

6904.62

239.85

114.19

June 29, 2026

6614.00

462.11

255.93

July 12, 2026

7387.00

441.10

*Excluding taxes and fees borne by the buyer.

**Reservation agreement.

According to the issuance prospectus, the company aims to sell 111 plots out of its total owned plots of 205, aims to lease 28 properties, plans to develop 14 properties by the company, and develop 52 properties in partnership with strategic partners.

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