Masar Sells Four Land Plots in Makkah for SAR 603.7 Million
· Makkah
StatusReported by the outlet; not confirmed elsewhere.
Umm Al Qura for Development and Construction Company, known as Masar, has completed a significant land sale in Makkah. The company sold four land plots to Alinma Development II Company Ltd., a special purpose vehicle of Alinma Makkah. The transaction was valued at SAR 603.7 million. This sale marks a notable development in the real estate market of Makkah, involving key players in the region.
Why this mattersThis transaction highlights the active real estate market in Makkah, which could influence land values and development opportunities in the area. For developers and architects in Madinah, this sale may serve as a benchmark for future land deals and project valuations, providing insights into the current market dynamics and potential investment opportunities.
Key figuresSAR 603.7 million
Source: Maaal
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