Masar sells 4 land plots for SAR 604M, books capital gain of SAR 344.3M

Umm Al Qura for Development and Construction Co. (Masar) and Alinma Development II Ltd., a special purpose vehicle of Alinma Makkah Real Estate Fund, fully owned by Masar, signed four sale agreements for four land plots at the Masar Destination project in Makkah with ARABIAN DYAR Co.

The four land plots are located in Zone 3 and do not overlook the pedestrian boulevard. They have a total area of 12,157 square meters.

In a statement to Tadawul today, Sept. 21, the company said the total transaction value amounts to SAR 603.76 million, excluding taxes and fees payable by the buyer.

The company said the transaction is part of the Masar destination development strategy, with the buyer set to develop three residential towers and a hospitality tower.

The company expects the transaction to have a positive impact on liquidity and financial results, noting that proceeds from the asset sale will be used to finance working capital and ongoing projects.

The transaction was concluded on Sept. 20, 2026, and there are no related parties to the transaction.

According to Argaam’s calculations, the company recorded a capital gain of around SAR 344.3 million from the transaction.

According to data available with Argaam, Masar has sold land plots and signed reservation agreements for the sale of several land plots within the Masar destination project in Makkah since its listing on the Main Market.

* Excluding taxes and fees payable by the buyer
** Reservation agreement
*** Not completed

According to the prospectus, the company targets selling 111 land plots out of the 205 land plots it owns, leasing 28 properties, developing 14 properties itself, and developing 52 properties in partnership with strategic partners.