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Umm Al-Qura halts land reservations in Wajhat Masar
Al Qurra Development and Reconstruction Company "Masar" announced the expiration of the reservation agreements for two plots of land within the Wasat Masar project in Mecca, without completing the sales transactions. The company retained the deposit amount in accordance with contractual terms. It confirmed that the non-completion of these two deals does not affect the project's development or its ongoing opportunities to benefit from investment prospects in the area, as it continues to host real estate assets designated for investors. The amounts received will be included under other income in the company's financial statements, while the two plots of land will remain classified as investment assets.
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