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Umm Al Qura completes 220.6M Riyal land sale
Al-Makarem Development and Reconstruction Company announced the execution of a land sale agreement valued at 220.61 million SAR, covering an area of 3,835 square meters, in a location overlooking King Abdulaziz Road in Wajhat Masar, with the aim of developing a hospitality tower. The agreement was signed on September 21, 2026, and is expected to have a positive impact on the company's financial performance, as the proceeds will be used to finance working capital and existing projects. The deal reflects increased liquidity and expectations of improved financial results for the company.
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