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Umm Al-Qura sells Mecca land for 169M
Al Maqqar Development and Reconstruction Company ("Masar") announced the signing of an agreement to sell a plot of land in Mecca within the "Masar Destination" project, valued at approximately 169 million Riyals. The land spans 2,500 square meters and is located in the second zone, overlooking the promenade "The Boulevard." The buyer is Ruwajh Real Estate Company, a real estate fund managed by Al Rajhi Financial. The deal was completed on September 15, 2026. This sale is part of the project's development strategy aimed at enabling the buyer to develop a residential tower, with expectations that it will improve liquidity and financial results, as the proceeds will be used to finance working capital and existing projects.
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