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Logo of Umm Al Qura for Development & Construction Company
Umm Al Qura for Development & Construction Company has introduced a new real estate investment model that allows land sales at the destination through a pre-booking mechanism. By factoring in both time and cost considerations, this model offers developers greater flexibility to complete preparations such as preliminary designs, financing, and licensing procedures, thereby improving investment efficiency and enhancing the economic viability of projects.
As the first step in adopting this approach, the company signed a reservation agreement to sell two plots of land, totaling 5,311.01 square meters, to Shulat Al-Wadi Real Estate Company, the SPV of a real estate fund managed by SEDCO Capital.
On the occasion, Mr. Yasser Abuateek, CEO of Umm Al Qura for Development & Construction, emphasized that this model represents a strategic shift in the development of Masar Destination, stating: “The adoption of the pre-booking mechanism reflects our commitment to providing a flexible and transparent investment environment that enables developers to carry out needed preparations efficiently. At the same time, it aligns with our strategy to accelerate project execution and strengthen our organizational and financial foundations.”
He added: “This direction is consistent with the company’s strategy for developing Masar Destination and helps reinforce its position as the first choice for developers and investors. By creating an integrated environment that balances development requirements with logistical needs, the model also enables more effective cash flow management.”
Additionally, it explained that this innovative investment model will provide a clear and transparent framework for future transactions, further enhancing the appeal of Masar Destination, which offers investors access to the first fully integrated investment ecosystem with unique opportunities at the heart of Makkah.
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