Masar sold two land plots to Madar Al-Tase’e
Umm Al Qura for Development and Construction Co. (Masar)sold two reserved land plots in Zone 1 of the Masar Destination project for a total of SAR 462.11 million to Madar Al-Tase’e Co., a special purpose vehicle (SPV) of a real estate fund managed by Alistithmar Capital. 
In a statement to Tadawul, the company said the fund will develop residential units on the two plots.
The first plot was sold for SAR 260.97 million, while the second fetched SAR 201.14 million.
Sale price and book value of each land plot (SAR mln)
Land plot
Area (SQM)
Book value
Sale price
First land plot
3,740
142.77
260.97
Second land plot
2,874
113.16
201.14
Total
6,614
255.93
462.11
Masar said the sale agreements were signed on June 28, noting that these transactions will have a positive impact on liquidity and financial results. The proceeds will be used to fund working capital requirements and ongoing projects.
According to Argaamdata, Masar signed last November two reservation agreements to sell two land plots within the Masar destination project to Madar Al-Tase’e for an agreed total sale value of SAR 462.11 million.
Land Sales at Masar Destination
Date
Land Area (sqm)
Number of Land Plots
Sale Value
(SAR mln)*
Book Value
(SAR mln)
June 29, 2025
2,500.11
1
255.76
128.07
June 30, 2025***
2,703.50
1
264.94
145.92
June 30, 2025
2,359.27
1
145.33
71.89
July 9, 2025
5,368.97
2
235.05
132.40
July 28, 2025
15,573.84
5
628.46
341.81
Aug. 17, 2025
2,671.21
1
145.12
76.51
Sept. 2, 2025**
5,311.01
2
328.80
180.67
Sept. 8, 2025**
4,886.02
2
438.82
—
Sept. 21, 2025
5,500.08
2
275.00
145.70
Oct. 1, 2025**
3,835.31
1
220.61
—
Nov. 17, 2025**
3,000.00
1
227.22
—
Nov. 18, 2025
2,861.79
1
204.62
103.89
Nov. 19, 2025**
11,245.35
3
427.63
—
Nov. 20, 2025**
3,061.58
1
91.85
—
Dec. 28, 2025
7,408.58
2
228.41
93.39
Feb. 12, 2026
2,915.80
1
89.46
40.30
May 19, 2026
4,487.38
1
210.76
100.01
June 21, 2026
6,904.62
3
239.85
114.19
June 28, 2026
6,614.00
2
462.11
255.93
**A reservation agreement
***The contract was terminated in January due to the buyer’s breach of a material contractual obligation.
Masar sold two land plots to Madar Al-Tase’e
Umm Al Qura for Development and Construction Co. (Masar)sold two reserved land plots in Zone 1 of the Masar Destination project for a total of SAR 462.11 million to Madar Al-Tase’e Co., a special purpose vehicle (SPV) of a real estate fund managed by Alistithmar Capital.
In a statement to Tadawul, the company said the fund will develop residential units on the two plots.
The first plot was sold for SAR 260.97 million, while the second fetched SAR 201.14 million.
Sale price and book value of each land plot (SAR mln)
Land plot
Area (SQM)
Book value
Sale price
First land plot
3,740
142.77
260.97
Second land plot
2,874
113.16
201.14
Total
6,614
255.93
462.11
Masar said the sale agreements were signed on June 28, noting that these transactions will have a positive impact on liquidity and financial results. The proceeds will be used to fund working capital requirements and ongoing projects.
According to Argaamdata, Masar signed last November two reservation agreements to sell two land plots within the Masar destination project to Madar Al-Tase’e for an agreed total sale value of SAR 462.11 million.
Land Sales at Masar Destination
Date
Land Area (sqm)
Number of Land Plots
Sale Value
(SAR mln)*
Book Value
(SAR mln)
June 29, 2025
2,500.11
1
255.76
128.07
June 30, 2025***
2,703.50
1
264.94
145.92
June 30, 2025
2,359.27
1
145.33
71.89
July 9, 2025
5,368.97
2
235.05
132.40
July 28, 2025
15,573.84
5
628.46
341.81
Aug. 17, 2025
2,671.21
1
145.12
76.51
Sept. 2, 2025**
5,311.01
2
328.80
180.67
Sept. 8, 2025**
4,886.02
2
438.82
—
Sept. 21, 2025
5,500.08
2
275.00
145.70
Oct. 1, 2025**
3,835.31
1
220.61
—
Nov. 17, 2025**
3,000.00
1
227.22
—
Nov. 18, 2025
2,861.79
1
204.62
103.89
Nov. 19, 2025**
11,245.35
3
427.63
—
Nov. 20, 2025**
3,061.58
1
91.85
—
Dec. 28, 2025
7,408.58
2
228.41
93.39
Feb. 12, 2026
2,915.80
1
89.46
40.30
May 19, 2026
4,487.38
1
210.76
100.01
June 21, 2026
6,904.62
3
239.85
114.19
June 28, 2026
6,614.00
2
462.11
255.93
**A reservation agreement
***The contract was terminated in January due to the buyer’s breach of a material contractual obligation.
