Riyadh – Mubasher: Umm Al Qura for Development and Construction Company executed sale agreements for three land plots within the Masar Destination for a total value of SAR 441.10 million.
The transaction was finalized with Watheeq Real Estate Opportunities Second Fund Company for the purpose of developing three residential towers.
Located in the second zone overlooking South King Abdulaziz Road, the plots cover a combined area of 7,387 square meters.
Individual land values were recorded at SAR 145 million, SAR 143.73 million, and SAR 152.37 million, respectively.
The total book value of the three assets stands at SAR 214.31 million, with specific plot book values of SAR 71.15 million, SAR 68.86 million, and SAR 74.30 million.
The individual land areas comprise 2,391 square meters, 2,480 square meters, and 2,517 square meters. This finalization follows an initial reservation agreement previously disclosed on 12 July.
The sale aligns with the ongoing development of the Masar Destination project in Makkah.
