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Umm Al Qura for Development to Divest Saudi Land Plots in SAR310 Million Deal

MT Newswires·09/29/2026 02:17:02
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02:17 AM EDT, 09/29/2026 (MT Newswires) -- Umm Al Qura for Development and Construction Co. (SASE:4325) agreed to sell two plots of land in Makkah's Masar Destination to Abdulmohsin Al Rossais & Sons Group Co, for 310.4 million Saudi riyals. The plots cover a total land area of 4,947 square meters, according to a Tuesday release. The real estate developer expects the transaction to have a positive impact on its liquidity and financial results, with the proceeds to be used as working capital and for ongoing projects.