Umm Al-Qura sells land in Masar for 251.8M
Al-Maqarah Development and Reconstruction Company announced the completion of the sale of a land plot within the "Masar" destination in Riyadh, valued at 251.77 million SAR, for the development of a hospitality tower on an area of 3,341 square meters on King Abdulaziz South Road. The company clarified that the sale will enhance financial liquidity to support ongoing projects and operational financing. The land's book value was approximately 124 million SAR. The deal was finalized after completing the legal and technical procedures on September 30, 2026, and is part of a prior agreement announced in November 2025.
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