Riyadh — Mubasher: Umm Al Qura for Development and Construction Company has executed a sale and reservation agreement for a land plot within the Masar Destination for a total value of SAR 251.76 million.
The agreement was signed on 30 September 2026 and involves a parcel located in the second zone overlooking South King Abdulaziz Road, according to a bourse filing.
The transaction follows an initial reservation agreement announced on 17 November 2025.
Meanwhile, the final sale was completed with Sharq Al Asimah Fund Company after updating the plot’s subdivision plans to meet specific project requirements for the development of a hospitality tower.
The land plot covers an area of 3,341 square meters and carries a book value of SAR 123.99 million.
The company stated that the deal will have a positive impact on its liquidity and financial results.
Proceeds from the sale are earmarked to fund working capital requirements and support existing projects.
Furthermore, the execution of this agreement marks the conclusion of the reservation process initiated in late 2025.
Umm Al Qura for Development recently sold two land plots within the Makkah project for a total value of SAR 310.44 million.
