Riyadh – Mubasher: Umm Al Qura for Development and Construction Company signed three reservation agreements on 9 July 2026 for the sale of land plots within the Masar Destination in Makkah for a total value of SAR 441.10 million.
The agreements were signed with Wathiq Real Estate Opportunity Fund II, a special purpose vehicle managed by Wathiq Financial Services, according to a bourse filing.
The transaction involves three land plots located in the second zone of the Masar Destination, covering a total area of 7,387 square meters. The individual values for the plots are SAR 145 million, SAR 143.73 million, and SAR 152.37 million. The buyer intends to develop residential units on the sites.
Under the terms of the agreements, the fund will pay a deposit for each plot to secure the reservation. The final sale agreements are expected to be executed before the reservation period expires on 1 November 2026.
Umm Al Qura for Development noted that the deal will have a positive impact on liquidity through the receipt of deposits, with further positive financial impacts expected upon the completion of the sales process. The company confirmed there are no related parties involved in the transaction.
The company’s general assembly meeting recently approved the appointments of Chairman and Vice Chairman, the formation of its standing board committees, and the designation of company representatives for the new board term.
