{"id":112016,"date":"2026-10-27T13:15:40","date_gmt":"2026-10-27T10:15:40","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=112016"},"modified":"2026-10-27T13:16:51","modified_gmt":"2026-10-27T10:16:51","slug":"%d9%85%d8%b3%d8%a7%d8%b1-%d8%aa%d8%a8%d9%8a%d8%b9-%d8%a3%d8%b1%d8%b6%d9%8b%d8%a7-%d9%81%d9%8a-%d9%85%d9%83%d8%a9-%d8%a8%d9%80138-98-%d9%85%d9%84%d9%8a%d9%88%d9%86-%d8%b1%d9%8a%d8%a7%d9%84","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/112016\/","title":{"rendered":"\u00abMasar sells land in Mecca for 138.98 million riyals to develop a hospitality tower"},"content":{"rendered":"

Al-Inma Development II Limited, the special purpose vehicle of Al-Inma Makkah Development II Fund, which owns Umm Al-Qura Development and Construction Company<\/a><\/strong> All its units, signing an agreement to sell a plot of land within "Masar" destination\u00ab <\/a><\/strong>In Makkah Al-Mukarramah to Ideal Housing Development Company Limited, a subsidiary of Mithaq Investment Holding Company, for a value of 138.98 million riyals, excluding taxes and fees borne by the buyer.<\/p>\n\n\n\n

The company explained in a statement published on Tadawul that the land area is 3,217 square meters, located in Zone 3 of the Masar destination, overlooking Abdullah Arif Road, with a book value of SAR 59.67 million. It added that the transaction is part of the Masar destination development strategy, as the buyer intends to develop a hospitality tower on the land, with the proceeds from the sale to be used to finance working capital and existing projects.<\/p>\n\n\n\n

The company confirmed that the deal will have a positive impact on liquidity and financial results.<\/p>\n\n\n\n

A series of deals to sell land at the destination route<\/strong><\/h2>\n\n\n\n

The new deal comes as part of a series of land sales and reservation agreements announced by \u00abMasar\u00bb since its listing on the main market, and included multiple deals during 2025 and 2026, with varying areas and values.<\/p>\n\n\n\n

The announced deals began on June 29, 2025 with the sale of a plot of land measuring 2500.11 square meters for 255.76 million riyals, and another deal on June 30 of the same year amounted to 145.33 million riyals for a plot of land measuring 2359.27 square meters.<\/p>\n\n\n\n

On July 9, 2025, the company announced a deal to sell two plots of land totaling 5,368.97 square meters for SAR 235.05 million, followed by a deal on July 28 to sell five plots of land totaling 15,573.84 square meters for SAR 628.46 million. On August 17, it also sold a plot of land measuring 2,671.21 square meters for SAR 145.12 million.<\/p>\n\n\n\n

In September 2025, the company announced a reservation agreement for the sale of two plots of land totaling 5,311.01 square meters, valued at SAR 328.80 million, dated September 2nd. On September 8th, it announced another agreement for the sale of two plots of land totaling 4,886.02 square meters, valued at SAR 438.82 million; however, this agreement expired without the transaction being completed. On September 21st, a transaction was recorded for the sale of two plots of land totaling 5,500.08 square meters, valued at SAR 275 million.<\/p>\n\n\n\n

November 2025 saw the announcement of several transactions and agreements, including a reservation agreement for the sale of a 3,000-square-meter plot of land for SAR 227.22 million on November 17, and a sale of a 2,861.79-square-meter plot of land for SAR 204.62 million on November 18. The company also announced two reservation agreements on November 19 and 20 for the sale of two plots of land measuring 6,757.97 square meters for SAR 216.87 million and 3,061.58 square meters for SAR 91.85 million, respectively. On December 28, 2025, the sale of two plots of land totaling 7,408.58 square meters reached SAR 228.41 million.<\/p>\n\n\n\n

During 2026, Masar announced the sale of a 2,915.80 square meter plot of land for SAR 89.46 million on February 12th, and another 4,487.38 square meter plot for SAR 210.76 million on May 19th. On June 21st, three plots of land totaling 6,904.62 square meters were sold for SAR 239.85 million, while a transaction on June 29th saw the sale of two plots totaling 6,614 square meters for SAR 462.11 million.<\/p>\n\n\n\n

On July 12, 2026, the company announced the sale of three plots of land totaling 7,387 square meters for SAR 441.10 million. Transactions continued throughout September, with the sale of a 2,500-square-meter plot on September 16 for SAR 168.91 million, and the sale of four plots totaling 12,157 square meters on September 21 for SAR 603.76 million.<\/p>\n\n\n\n

The company also announced on September 22 the sale of a 3,835.31 square meter plot of land for SAR 220.61 million, followed by the sale of two plots totaling 4,947 square meters for SAR 310.44 million on September 29, and then the sale of a 2,750 square meter plot for SAR 183.74 million on September 30. On October 1, 2026, a sale of a 3,341 square meter plot was recorded for SAR 251.77 million, before the announcement of the final transaction on October 26, which involved a 3,217 square meter plot for SAR 138.98 million.<\/p>\n\n\n\n

The advertisements in question include reservation agreements, one of which was dated September 2, 2025, while the agreement dated September 8, 2025, expired without a sale being completed. All stated sale prices are exclusive of taxes and fees payable by the buyer, according to the published disclosures.<\/p>\n\n\n\n

Read also:<\/strong><\/p>\n\n\n\n

700 million riyals for the development of a hotel apartment tower in the "Masar" destination in Makkah<\/strong><\/a><\/p>\n\n\n\n

1.5 billion riyals allocated for the development of 600 housing units in the \u00abWajha Masar\u00bb project in Makkah<\/strong><\/a><\/p>\n\n\n\n

\u00abUmm Al-Qura awards the development of Masar Gardens, its second destination in Makkah<\/strong><\/a><\/p>\n\n\n\n

<\/p>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> 3<\/span> Minutes<\/span><\/span>Al-Inma Development Company II Limited, the special purpose vehicle of Al-Inma Makkah Development Fund II, whose units are wholly owned by Umm Al-Qura Development and Construction Company, announced the signing of an agreement to sell a plot of land within the \u00abMasar\u00bb destination in Makkah to Ideal Housing Development Company Limited, a subsidiary of Mithaq Investment Holding Company, for a value of SAR 138.98 million, excluding taxes and fees. 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