Saudi ArabiaReal Estate & TourismStage: Land sale signed; tower construction procurement not established
Masar hospitality tower land sale signals future development
Umm Al Qura for Development and Construction disclosed on 26 October 2026 a land sale signed on 25 October for a proposed hospitality tower in Masar, Makkah. The 3,217 sq m plot is in Zone 3 on Abdullah Uraif Road.
The buyer is Al Sakan Al Mithali Development, a subsidiary of Methak Investment Holding. The disclosed seller is Al Inma Second Development. The disclosed land price is SAR138,983,472, excluding taxes and fees payable by the buyer.
The amount relates to the land transaction, not the construction cost or a contractor award. No construction contractor, open tender, delivery timetable or hotel room count is established by the disclosure.
Sources: Umm Al Qura investor relations; issuer disclosure. Last verified: 27 October 2026.