Masar exec says over 30% land developed, SAR 63B invested in Masar Destination

Logo of Umm Al Qura for Development and Construction Co. (Masar) 

Umm Al Qura for Development and Construction Co.’s (Masar) Chief Investment Officer (CIO) Tariq Sharaf said that more than 30% of the land in Masar Destination project has been developed so far, with all infrastructure works fully completed.

In an interview with Al Arabiya, he said that total investments in the Masar Destination, both from Masar and participating developers, have exceeded SAR 63 billion.

He said that Masar’s own contribution amounted to nearly SAR 23 billion, including about SAR 10 billion for land acquisition and infrastructure costs, while the remaining investment comes from other developers.

Sharaf noted that the company’s business model is based on serving as the primary developer of the destination, completing all infrastructure, and attracting top developers and operators.