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Umm Al-Qura Signs Land Sale Deals in Masar
Al Maqam For Development and Reconstruction Company announced the signing of four land sale agreements within the "Masar" project in Mecca, with a total value of 603.76 million Saudi Riyals. The parcels vary in size, ranging from 2,570 to 3,936 square meters, and are located in the third area of the project; they do not overlook the pedestrian corridor "Boulevard." Edar Al-Arabia Real Estate Development Company will develop three residential towers and a hospitality tower on the sold land, aiming to support the destination development strategy. The deal is expected to have a positive impact on liquidity and financial results, with no related parties involved in the transaction.
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