Riyadh – Mubasher: Al Khomasiah Group signed an agreement with Umm Al Qura for Development and Construction and BLME to develop two residential towers in Masar destination in Makkah, with investments exceeding SAR 1 billion.
Announced during Cityscape Global 2025 in Riyadh, the project reflects Al Khomasiah’s expansion in high-quality urban development projects in Makkah and Madinah, according to a press release.
It comprises 547 residential units in the third zone of the Masar destination. The units are designed in a contemporary style that balances construction quality and layout flexibility.
Under the deal, Al Khomasiah will undertake the development of the project.
Ammar Baroum, CEO of Al Khomasiah Group, said: “Masar adds to our ongoing development initiatives in Makkah and Madinah, highlighting the trust our partners place in Al Khomasiah to deliver well-designed, high-quality projects for residents and investors.”
Baroum added: “This partnership supports Al Khomasiah’s presence in the real estate sector through projects that enhance the urban environment in Makkah and Madinah, while also strengthening investment returns.”
In the nine-month period that ended on 30 September 2025, Umm Al Qura logged net profits valued at SAR 912.90 million.
