Um Al-Qura Signs Land Deals in Mecca
Al Maqara Development and Construction Company announced the signing of two land sale agreements within the Wajhat Masar project in Mecca, with a total value of approximately 310.44 million riyals. The two plots are located in Zone Two near the main pedestrian corridor "The Boulevard," covering a combined area of 4,947 square meters. The first plot was sold for 178.24 million riyals and measures 2,697 square meters, while the second was sold for 132.20 million riyals with an area of 2,250 square meters. The purpose of these sales is to support the area's development through the construction of two residential towers on each plot, thereby enhancing the housing supply. The company will use the proceeds to fund construction operations and projects within the destination. The transactions were concluded with Abdulmohsen Al Rassis & Sons Group Company, with no related parties involved. These sales are part of the company's efforts to advance the development of Wajhat Masar and generate financial returns that support the sustainability of its projects.
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