Logo ofUmm Al Qura for Development and Construction Co. (Masar)
Umm Al Qura for Development and Construction Co. (Masar) signed on Sept. 18 an agreement to sell land plots within the Masar Destination project for a total of SAR 275 million (excl. any taxes or fees borne by the buyer), according to a statement to Tadawul. 
For more news and details on the projects
Masar and its wholly owned subsidiaries, Al-Inma First Development Co. Ltd and Al-Inma Second Development Co. Ltd, two special purpose vehicles (SPVs), signed the agreement with Aswar Alpha Company, SPV established by a real estate fund managed by Alpha Capital.
The plots cover a combined area of 5,500.08 square meters, with an asset value of SAR 145.69 million.
Proceeds from the sale will finance the development of residential units, the ongoing projects, in addition to the working capital.
Masar expects the deal will have a positive impact on financial results as well as liquidity.
According to Argaam data, Masar recently introduced a real estate investment model that allows the sale of land plots in the Masar Destination project through a pre-booking mechanism. The model factors in both time and cost, giving developers more flexibility to complete preparatory work such as preliminary designs, financing arrangements, and licensing procedures, thereby enhancing investment efficiency and improving the projects’ economic viability.
On Sept. 1, the company also signed two reservation agreements to sell land plots within the Masar Destination project to Shoala Al-Wadi Real Estate Co., a special-purpose vehicle owned by a real estate fund managed by SEDCO Capital, for a total of SAR 328.8 million.
Logo ofUmm Al Qura for Development and Construction Co. (Masar)
Umm Al Qura for Development and Construction Co. (Masar) signed on Sept. 18 an agreement to sell land plots within the Masar Destination project for a total of SAR 275 million (excl. any taxes or fees borne by the buyer), according to a statement to Tadawul.
For more news and details on the projects
Masar and its wholly owned subsidiaries, Al-Inma First Development Co. Ltd and Al-Inma Second Development Co. Ltd, two special purpose vehicles (SPVs), signed the agreement with Aswar Alpha Company, SPV established by a real estate fund managed by Alpha Capital.
The plots cover a combined area of 5,500.08 square meters, with an asset value of SAR 145.69 million.
Proceeds from the sale will finance the development of residential units, the ongoing projects, in addition to the working capital.
Masar expects the deal will have a positive impact on financial results as well as liquidity.
According to Argaam data, Masar recently introduced a real estate investment model that allows the sale of land plots in the Masar Destination project through a pre-booking mechanism. The model factors in both time and cost, giving developers more flexibility to complete preparatory work such as preliminary designs, financing arrangements, and licensing procedures, thereby enhancing investment efficiency and improving the projects’ economic viability.
On Sept. 1, the company also signed two reservation agreements to sell land plots within the Masar Destination project to Shoala Al-Wadi Real Estate Co., a special-purpose vehicle owned by a real estate fund managed by SEDCO Capital, for a total of SAR 328.8 million.
