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Umm Al-Qura sells Wajhat Masar land for 310.4M
Al-Ma'kra Development and Construction Company "Masar" announced the signing of two agreements to sell two parcels of land at Masar Destination in Mecca, with a total value of approximately 310.44 million Saudi Riyals. The two parcels are located along the main pedestrian corridor, "The Boulevard," which has a total area of 4,947 square meters. The first parcel, measuring 2,697 square meters, is being sold for 178.24 million Riyals, while the second parcel, measuring 2,250 square meters, will be sold for 132.20 million Riyals. The proceeds will be used to finance current development operations, with the buyer planning to develop two residential towers on each parcel to enhance housing offerings at the destination. The deal is of a commercial nature and is executed between Alinma Development Takamul Limited Company and the buyer, Abdulkareem Al-Rasais & Sons Group, with confirmation that no related parties are involved.
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