-+ 0.00%
-+ 0.00%
-+ 0.00%

Umm Al Qura for Development and Construction to Sell Four Land Plots for SAR604 Million

MT Newswires·09/21/2026 01:54:35
Listen to the news
01:54 AM EDT, 09/21/2026 (MT Newswires) -- Umm Al Qura for Development and Construction Co. (SASE:4325) agreed to sell four land plots within the Masar Destination in Makkah, Saudi Arabia, to Al-Diyar Al-Arabia for Real Estate Development Co. The plots cover a total area of 12,157 square meters and will be sold for 603.8 million Saudi riyals, the real estate development company said Monday. The buyer will use the plots to develop three residential and one hospitality tower. Umm Al Qura for Development and Construction will use the sale proceeds to finance working capital and ongoing projects. The transaction also involves Al-Inma Second Development Co., a special purpose vehicle for Umm Al Qura-owned Al-Inma Makkah Development Fund II.