Masar sells land plot worth SAR 210.8M

Masar expects the transaction to have a positive impact on its liquidity, financial results.

Umm Al Qura for Development and Construction Co. (Masar) sold a land plot within the Masar Destination project for SAR 210.8 million.

Masar sold the plot to Heyazah Real Estate Development Co., a special purpose vehicle for a real estate fund managed by Blominvest Saudi Arabia, according to a statement to Tadawul. The sale agreement was signed on May 18.

The deal encompasses developing hotel units on the land plot, Masar said, noting that the book value of the land stands at nearly SAR 100 million.

Masar expects the transaction to have a positive impact on the company’s liquidity and financial results, with the proceeds to be used for financing working capital and existing projects.

According to Argaam data, comparing the sale price with the book value of the sold land plot indicates that the company generated a profit of SAR 110.8 million from the transaction.

In November 2025, Masar signed a reservation agreement to sell a land plot within the Masar Destination project to Blominvest Saudi Arabia and Heyazah Real Estate for SAR 210.76 million, intended for the development of hospitality units on a land plot spanning 4,487 square meters.

**A reservation agreement

***The contract was terminated in January due to the buyer’s breach of a material contractual obligation.