Masar signs land reservation agreement worth SAR 91.8M

Masar said that residential units will be developed on the land plot

Umm Al Qura for Development and Construction Co. (Masar) signed a reservation agreement with Arabian Dyar Real Estate Development Co. to sell a land plot with an area of 3061.58 square meters within the Masar Destination project for SAR 91.8 million.

Residential units will be built on the land plot, the company said in a statement to Tadawul.

As per the agreement, the investor pays a deposit to reserve the land plot and execute the final sale agreement during the reservation period.

Masar expects a positive impact on liquidity from the deposit received upon signing the reservation agreement, as well as on its financial results once the transaction is completed or the reservation period expires on Nov. 18, 2026.

The company added that no related parties are involved in the deal and any material developments will be announced in due course.

Since its listing on the Main Market last March, Masar has sold 26 land plots within the Masar Destination project in Makkah, totaling SAR 4.35 billion.

*Excluding taxes and fees borne by the buyer.

**A reservation agreement

According to its prospectus, Masar aims to sell 111 of its 205 land plots, lease 28 properties, develop 14 directly, and develop 52 in partnership with strategic partners.