Makkah, Saudi Arabia — Umm Al Qura for Development and Construction Company has finalized a major land sale within the Masar Destination. The company sold five land plots for SAR 628.46 million. The transaction was announced on Tadawul on July 27, 2025.
The plots span 15,573.84 square meters and were sold to Saqeefat Al-Asima Company, a subsidiary of Mohammad Abdul Aziz Al Habib and Partners Real Estate Company. The buyer will cover all related taxes and fees.
Advancing Makkah’s Urban Vision Through Hospitality
The land will be used to build five hospitality towers. This move supports the Masar Destination’s goal of boosting religious tourism and expanding infrastructure in the Holy City. Moreover, the sale aligns with Umm Al Qura’s strategy to unlock value from its assets and fast-track development in this key mixed-use corridor.
The plot’s book value was SAR 341.81 million. As a result, the sale delivered a notable capital gain. Umm Al Qura plans to use the proceeds to boost liquidity and fund ongoing project work.
Because the deal involved no financing or conditions, it reflects strong investor confidence in Makkah’s hospitality-focused urban growth. As Saudi Arabia increases its capacity for religious visitors, projects like Masar will shape the city’s modern yet spiritually rooted infrastructure.
THE SAUDI STANDARD’S VIEW: Masar Land Sale Advances Makkah’s Role as a Global Religious Tourism Hub
The Umm Al Qura Masar land sale, totaling SAR 628 million, marks a key moment in Makkah’s urban transformation. By enabling the development of five hospitality towers, the deal supports Vision 2030’s goal of making the Holy City a globally competitive center for religious tourism.
The plots sold well above their SAR 341.81 million book value. This gain signals strong market confidence in the Masar Destination’s long-term potential. It also highlights the project’s growing appeal for private sector investment in national development.
Saqeefat Al-Asima’s plan to build premium hospitality properties strengthens Masar’s urban offering. It enhances Makkah’s capacity to welcome growing numbers of Umrah and Hajj pilgrims with improved services, enhanced transportation, and enriched visitor experiences.
Importantly, Umm Al Qura will reinvest the proceeds into working capital and active projects. This approach shows smart capital recycling and supports continued progress without compromising financial flexibility.
Masar’s development near the Grand Mosque illustrates Saudi Arabia’s approach to real estate. It combines cultural legacy, religious purpose, and modern urban planning to create a livable and efficient environment.
Ultimately, the Umm Al Qura Masar land sale highlights how Saudi Arabia is unlocking the potential of its holy cities. Through visionary design, effective partnerships, and market-led execution, the Kingdom is turning sacred spaces into engines of global relevance and national progress.
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