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Umm Al Qura for Development and Construction, the developer behind the Masar destination project in Makkah, has signed a reservation agreement to sell a plot of land within the development to Heyazah Osool Al-Hejaz Development Company. The transaction, valued at SAR 210.8 million, is aimed at developing hospitality units within the large-scale mixed-use destination. The deal reflects continued investment activity in hospitality-led real estate projects in Saudi Arabia, particularly around Makkah, where demand for accommodation infrastructure has remained strong due to religious tourism and ongoing urban development initiatives.
Saudi Arabia-based Umm Al Qura for Development and Construction announced that it has signed a reservation agreement for the sale of a land plot within its Masar destination project in Makkah. The buyer is Heyazah Osool Al-Hejaz Development Company. Advertisement
The company stated that the transaction was executed for the development of hospitality units as part of the larger Masar destination master plan. The total value of the deal stands at SAR 210.8 million.
Masar is among the major urban development projects being developed near the Grand Mosque in Makkah and is designed as a mixed-use destination comprising hospitality, residential, commercial and infrastructure components. The project forms part of Saudi Arabia’s broader urban expansion and tourism growth plans linked to Vision 2030.
Demand for hospitality developments in Makkah has continued to rise in recent years due to increasing pilgrim and visitor numbers. Several developers and investors have been expanding hotel and serviced accommodation capacity across the city to support religious tourism growth and related economic activity.
Umm Al Qura for Development and Construction has been actively progressing infrastructure and real estate activities within the Masar destination over the past few years. The latest agreement adds to ongoing development momentum within the project and highlights continued investor interest in hospitality assets located close to key religious destinations.
The company did not disclose additional timelines or development details related to the hospitality project linked to the land transaction.
Source Reuters
5th Jun, 2025
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