Umm Al-Qura Development and Construction Company has announced the completion of the sale of two plots of land within the first phase of the “Masar Destination” project in Makkah, to “Madar Al-Tasi”,“ a special-purpose company affiliated with a real estate fund managed by ”Al-Istithmar Capital," with the aim of developing a residential project within the destination.

The company clarified, in a statement published on ”Tadawul," that the total value of the transaction amounted to 462.1 million riyals, divided between 261 million riyals for the first plot and 201.1 million riyals for the second plot, while the two sales agreements were signed on June 28, 2026. According to the statement, the book value of the two plots is approximately 255.9 million riyals, of which 142.8 million riyals is for the first plot and 113.2 million riyals for the second plot, reflecting the company’s realization of capital gains from the sale.

The total area of the two plots is 6,614 square meters, with the first plot covering 3,740 square meters and the second plot covering 2,874 square meters. The company confirmed that the completion of the two transactions will strengthen its financial position by boosting liquidity and improving financial results, noting that the proceeds from the sale will be used to finance working capital, as well as to support the implementation of existing projects.