The company said strong demand supports plans to remarket the same land plot.
Umm Al Qura for Development and Construction Co. (Masar), the owner, developer and operator of the Masar Destination project, announced that it terminated a land sale agreement with Tomooh Al Khaleej Financial Co. on Jan. 25, 2026, according to a statement to Tadawul. 
The termination was due to the buyer’s breach of a material contractual obligation in accordance with the contract terms and conditions.
The expected relevant financial impact is a decline in 2025 revenue of SAR 264.94 million and a SAR 119.03 million drop in net profit.
There is no material impact on the company’s targeted profitability levels over the period.
Given the strong demand for the available investment opportunities in Masar Destination, the company is committed to executing another transaction at a later date for the same land plot with a different investor.
In June, the company announced signing a land sale agreement within the project’s scope in Makkah, covering an area of 2,703.50 square meters, which was sold to Tomooh Al Khaleej for SAR 264.94 million, excluding taxes and fees borne by the buyer, data compiled by Argaam showed.
The company said strong demand supports plans to remarket the same land plot.
Umm Al Qura for Development and Construction Co. (Masar), the owner, developer and operator of the Masar Destination project, announced that it terminated a land sale agreement with Tomooh Al Khaleej Financial Co. on Jan. 25, 2026, according to a statement to Tadawul.
The termination was due to the buyer’s breach of a material contractual obligation in accordance with the contract terms and conditions.
The expected relevant financial impact is a decline in 2025 revenue of SAR 264.94 million and a SAR 119.03 million drop in net profit.
There is no material impact on the company’s targeted profitability levels over the period.
Given the strong demand for the available investment opportunities in Masar Destination, the company is committed to executing another transaction at a later date for the same land plot with a different investor.
In June, the company announced signing a land sale agreement within the project’s scope in Makkah, covering an area of 2,703.50 square meters, which was sold to Tomooh Al Khaleej for SAR 264.94 million, excluding taxes and fees borne by the buyer, data compiled by Argaam showed.
