Riyadh — Mubasher: Umm Al Qura for Development and Construction Company announced the sale of a land plot within the Masar Destination in Makkah for a total value of SAR 183.74 million, according to a bourse filing.
The agreement was signed on 29 September 2026 and involves the transfer of a 2,750-square-meter site located in the second zone of the Masar Destination to Makkiyoon Urban Developers Company.
The transaction aligns with the strategic development of the Masar Destination, as the purchaser intends to develop a hospitality tower on the site, which overlooks the main pedestrian boulevard.
According to the disclosure, the asset carries a book value of SAR 82.68 million. Meanwhile, the transaction price excludes taxes and fees, which are to be borne by the buyer.
Umm Al Qura for Development expects the deal to have a positive impact on its liquidity and financial results.
The company stated that the proceeds from the sale will be utilized to fund working capital requirements and support existing projects. There are no related parties involved in the transaction.
