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Umm Al-Qura Sells Land in Masar Makkah for SAR 138.98 Million

Umm Al-Qura for Development sold a land plot spanning 3,217 square meters in Zone 3 at the Masar Makkah destination for SAR 138.98 million, exceeding its book value of SAR 59.67 million.

October 26, 2026
Umm Al-Qura Sells Land in Masar Makkah for SAR 138.98 Million

Umm Al-Qura for Development and Construction (Masar) announced the sale of a plot of land in Zone 3 within the 'Masar' destination in Makkah to Ideal Housing Development Company, a subsidiary of Meethaq Investment Holding, for the development of a hospitality tower.

The transaction is valued at SAR 138.98 million ($37.11 million), with the land covering an area of 3,217 square meters, while its total book value stands at SAR 59.67 million, according to a statement issued by the company to the Saudi Exchange.

Masar stated that it will use the sale proceeds to fund working capital requirements and ongoing projects, while the buyer plans to develop a hospitality tower on the land.

The company disclosed the deal in a statement to the Saudi Exchange, confirming that the sale took place as part of its operations at the 'Masar' destination in Makkah.

What Do These Terms Mean?

Book Value: The value at which an asset is recorded on the company's books, which may differ from its market selling price.

Working Capital: The funds allocated to cover day-to-day operational expenses and short-term projects.

Saudi Exchange: The official stock and securities market in the Kingdom, also known as 'Tadawul'.

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