Umm Al Qura for Development & Construction Signs Land Sale Agreement with Makkiyoon Urban Developers
Umm Al Qura for Development & Construction Company, the owner, developer, and operator of Masar Destination, has signed a land sale agreement with Makkiyoon Urban Developers to develop a four-star hotel tower in Zone 2 of Masar Destination. The project will comprise approximately 696 units and represents a total investment of approximately SAR 842 million.
The agreement aligns with Masar Destination’s strategy and reflects the ongoing efforts of Umm Al Qura for Development & Construction to attract high-quality investments that expand and diversify the destination’s accommodation and hospitality offerings in the heart of Makkah. The project will also help enhance the visitor experience and improve the quality of services provided to pilgrims, in line with the objectives of Saudi Vision 2030.
Commenting on the agreement, Yasser Abuateek, Chief Executive Officer of Umm Al Qura for Development & Construction, said: "This agreement reflects our vision to further strengthen Masar Destination’s position as a distinguished investment platform capable of attracting capital and expertise and directing them toward sectors that generate sustainable impact, particularly hospitality. Through our partnerships with developers and investors, we are building an integrated urban and economic ecosystem where land uses, services, and experiences complement one another, enhancing Makkah’s competitiveness while elevating quality of life and enriching the visitor experience."
For his part, Dr. Magdy Hariri, Chairman of Makkiyoon Urban Developers, said: "This agreement represents a strategic milestone in the company's growth journey and reflects our commitment to supporting investment in hospitality projects that deliver strong feasibility and long-term value. We take pride in our partnership with Umm Al Qura for Development & Construction and look forward to developing a hotel tower at Masar Destination that meets high-quality standards. The project will offer a fully integrated guest experience tailored to the needs of visitors to Makkah, and contribute to the continued growth of the hospitality sector in the Holy Capital."
Masar Destination is one of Makkah’s most prominent urban developments, embodying a fully integrated model for a modern destination that brings together residential, hospitality, retail, and service components within a sophisticated infrastructure network and state-of-the-art amenities. The destination plays a key role in enhancing quality of life and supporting economic and urban growth, reinforcing Makkah’s position as a globally attractive destination for residents, visitors, and investors.