Umm Al Qura for Development unveils SAR 604m sale deal
MASAR
4325 0.24% 16.73 0.04
Riyadh – Mubasher: Umm Al Qura for Development and Construction Company announced the sale of four land plots within the Masar Destination in Makkah for a total value of SAR 603.76 million.
The transaction, signed on 20 September 2026, involves Al Diyar Al Arabiya Real Estate Development as the purchaser.
The sale was executed alongside Alinma Investment’s special purpose vehicle, Alinma Tatweer II Limited, which holds the assets for a fund wholly owned by Umm Al Qura.
The four plots cover a combined area of 12,157 square meters in the destination's third zone. Individual plot sizes are 2,831, 2,820, 2,570, and 3,936 square meters.
The total book value of the assets is SAR 259.47 million. According to the disclosure, the buyer intends to utilize the sites to develop three residential towers and one hospitality tower.
Umm Al Qura for Development stated that the proceeds will be used to fund working capital and existing projects. The company expects the transaction to have a positive impact on its liquidity and overall financial results.
On 15 September, the group penned a sale deal at a total value of SAR 168.91 million for a land plot within the Masar Destination in Makkah.
Source: Mubasher Source: {{details.article.source}}