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

'Masar' clarified in a statement on 'Tadawul' today, 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 indicated 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 that the final sale agreements will be signed 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' term.

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