Riyadh – Mubasher: Umm Al Qura for Development and Construction Company inked a sale deal for a land plot within the Masar Destination in Makkah at a total value of SAR 168.91 million.
The agreement, signed on 15 September 2026, involves the transfer of a 2,500-square-meter site located in the second zone of the development, overlooking the pedestrian boulevard.
The purchaser is Rawajeh Real Estate, a special purpose vehicle for a real estate fund managed by Al Rajhi Capital.
According to the disclosure, the book value of the assets stands at SAR 76.01 million.
The transaction is aligned with the broader development strategy for the Masar Destination, as the buyer intends to develop a residential tower on the site.
Umm Al Qura for Development stated that the transaction will have a positive impact on its liquidity and overall financial results. The company plans to utilize the proceeds from the transaction to fund its working capital requirements and support existing projects.
The sale price excludes taxes and fees, which are to be borne by the purchaser. There are no related parties involved in the transaction.
In the first half (H1) of 2026, the net profits fell by 34.14% to SAR 261.03 million from SAR 396.34 million in H1-25.
