Riyadh - Mubasher: Umm Al Qura for Development and Construction Company introduced a new real estate investment model that allows land sales at the destination through a pre-booking mechanism, according to a press release.
By factoring in both time and cost considerations, this model offers developers greater flexibility to complete preparations, including preliminary designs, financing, and licensing procedures. This boosts investment efficiency and enhances the economic viability of projects.
The company signed a reservation agreement to sell two plots of land, spanning 5,311.01 square meters, to Shulat Al-Wadi Real Estate Company, an SPV of a real estate fund managed by Sedco Capital. The sale deal is valued at SAR 328.80 million.
Yasser Abuateek, CEO of Umm Al Qura, commented: “The adoption of the pre-booking mechanism reflects our commitment to providing a flexible and transparent investment environment that enables developers to carry out needed preparations efficiently.”
“At the same time, it aligns with our strategy to accelerate project execution and strengthen our organizational and financial foundations,” Abuateek highlighted.
He added: “By creating an integrated environment that balances development requirements with logistical needs, the model also enables more effective cash flow management.”
The innovative investment model will provide a clear and transparent framework for future transactions, further enhancing the appeal of Masar Destination, which offers investors access to the first fully integrated investment ecosystem with unique opportunities at the heart of Makkah.
During the six-month period that ended on 30 June 2025, Umm Al Qura posted a net profit worth SAR 396.34 million, marking a 106.25% year-on-year (YoY) increase from SAR 192.16 million.
