Riyadh – Mubasher: Umm Al Qura for Development and Construction Company announced the sale of two land plots within the Masar Destination in Makkah for a total value of SAR 310.44 million.
The transaction was executed on 28 September 2026, through Alinma Investment’s special purpose vehicle, Alinma Development Second Company, in which Umm Al Qura holds all units.
The buyer, Abdulmohsen Al Rasheed and Sons Group, acquired the plots located in the second zone of the Masar Destination overlooking the pedestrian boulevard.
The total area of the land is 4,947 square meters, comprising a first plot of 2,697 square meters and a second plot of 2,250 square meters.
Individually, the plots were sold for SAR 178.24 million and SAR 132.20 million, respectively. The combined book value of the assets stands at SAR 143.74 million.
According to the disclosure, the sale aligns with the strategy to develop the Masar Destination, as the buyer intends to construct two residential towers on the sites.
Umm Al Qura for Development stated that the deal will positively impact its liquidity and financial results, with proceeds earmarked to fund working capital and existing projects. There are no related parties involved in the transaction.
