Umm Al-Qura halts land reservation in Wajhat Masar
Al-Maqara for Development and Construction Company announced the expiration of the reservation agreements for the sale of a land parcel within the Wajhat Masar project in Mecca, without completing the sales transactions with Musa Abdulaziz Al Musa & Sons Holding Real Estate Company. The company clarified that the amounts paid as a deposit will remain secure and will be reflected as other income in the financial statements. Additionally, the company confirmed that this setback does not affect the project’s development plans or its schedule, and that the two land parcels will continue to be classified as investment assets, with ongoing investments in real estate opportunities in Mecca.
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