Masar expects the transaction to positively impact its liquidity and financial results.
Umm Al Qura for Development and Construction Co. (Masar) said it signed a reservation and sale agreement for a land plot within Masar Destination with Sharq Al Asimah Fund Co. to develop a hospitality tower for SAR 251.77 million. 
This followed an update to the land subdivision plan to align with the project’s requirements, according to a statement to Tadawul.
The land plot is located in Zone 2, overlooking the southern section of King Abdulaziz Road, and spans 3,341 square meters.
Masar said the land plot has a book value of SAR 124 million, adding that the transaction will have a positive impact on liquidity and financial results. The proceeds will be used to finance working capital and existing projects.
According to Argaam data, the company generated an estimated capital gain of around SAR 127.77 million from the transaction.
According to data available with Argaam, Masar signed a reservation agreement in November 2025 to sell a land plot within Masar Destination in Makkah with Sharq Al Asimah Fund Co. (the special purpose vehicle of a real estate fund managed by Alistithmar Capital) for an agreed sale price of SAR 227.22 million, for the fund to develop hotel units.
The company said the land plot spans 3,000 square meters, adding that the memorandum expires on Sept. 30, 2026.
Since listing on the Main Market, Masar has sold and signed reservation agreements to sell several land plots within Masar Destination in Makkah, as shown in the table below:
Land Sales at Masar Destination
Date
Land Area (sqm)
No. 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
2,359.27
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
Nov. 17, 2025**
3,000.00
1
227.22
—
Nov. 18, 2025
2,861.79
1
204.62
103.89
Nov. 19, 2025**
6757.97
2
216.87
—
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 29, 2026
6,614.00
2
462.11
255.93
July 12, 2026
7387.00
3
441.10
—
Sept. 16, 2026
2500.00
1
168.91
76.01
Sept. 21, 2026
12157.00
4
603.76
259.47
Sept. 22, 2026
3835.31
1
220.61
120.90
Sept. 29, 2026
4947.00
2
310.44
143.74
Sept. 30, 2026
2,750.00
1
183.74
82.68
**A reservation agreement
***The agreement expired with no sale transaction.
Masar expects the transaction to positively impact its liquidity and financial results.
Umm Al Qura for Development and Construction Co. (Masar) said it signed a reservation and sale agreement for a land plot within Masar Destination with Sharq Al Asimah Fund Co. to develop a hospitality tower for SAR 251.77 million.
This followed an update to the land subdivision plan to align with the project’s requirements, according to a statement to Tadawul.
The land plot is located in Zone 2, overlooking the southern section of King Abdulaziz Road, and spans 3,341 square meters.
Masar said the land plot has a book value of SAR 124 million, adding that the transaction will have a positive impact on liquidity and financial results. The proceeds will be used to finance working capital and existing projects.
According to Argaam data, the company generated an estimated capital gain of around SAR 127.77 million from the transaction.
According to data available with Argaam, Masar signed a reservation agreement in November 2025 to sell a land plot within Masar Destination in Makkah with Sharq Al Asimah Fund Co. (the special purpose vehicle of a real estate fund managed by Alistithmar Capital) for an agreed sale price of SAR 227.22 million, for the fund to develop hotel units.
The company said the land plot spans 3,000 square meters, adding that the memorandum expires on Sept. 30, 2026.
Since listing on the Main Market, Masar has sold and signed reservation agreements to sell several land plots within Masar Destination in Makkah, as shown in the table below:
Land Sales at Masar Destination
Date
Land Area (sqm)
No. 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
2,359.27
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
Nov. 17, 2025**
3,000.00
1
227.22
—
Nov. 18, 2025
2,861.79
1
204.62
103.89
Nov. 19, 2025**
6757.97
2
216.87
—
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 29, 2026
6,614.00
2
462.11
255.93
July 12, 2026
7387.00
3
441.10
—
Sept. 16, 2026
2500.00
1
168.91
76.01
Sept. 21, 2026
12157.00
4
603.76
259.47
Sept. 22, 2026
3835.31
1
220.61
120.90
Sept. 29, 2026
4947.00
2
310.44
143.74
Sept. 30, 2026
2,750.00
1
183.74
82.68
**A reservation agreement
***The agreement expired with no sale transaction.
