Rawajeh to develop SAR500m residential tower at Masar in Makkah

Umm Al Qura for Development and Construction has signed an agreement with Rawajeh Group for a new residential tower at its Masar Destination in Makkah, representing an investment of approximately SAR500m ($133m).

The tower will be developed in Zone 2 of Masar Destination and will contain approximately 250 residential units. Rawajeh will undertake development of the project.

The agreement adds another privately funded development to the expanding Masar pipeline, where multiple hotel, residential and mixed-use schemes are moving through investment and construction stages.

The announcement does not yet identify the main construction contractor, consultant or construction timetable. That makes the next appointments commercially important.

Contractors should watch for the main works package, while consultants, façade and MEP specialists, vertical-transport companies, fit-out contractors and building-product suppliers have potential routes into the project as design and procurement advance.

Sources: Umm Al Qura for Development and Construction.