Saudi-based Umm Al Qura for Development and Construction has signed an agreement with the real estate firm, Aldyar Alarabiya Company for the construction of 10 new residential towers at Masar residential community development within Makkah city at an investment of $798 million.
Launched in 2020, Masar is an urban destination with a development and investment vision that enhances the quality of life for the residents of Makkah and its guests of Umrah pilgrims, characterized by its strategic location in the center of the Saudi city.
The development of Masar destination, where King Abdul Aziz Road is the key component, has been carefully planned in line with a modern holistic concept based on complementary, interrelated foundations, including environmental and urban aspects.
The project, which spans 1.25 million square meters in Makkah, includes a 3,650-meter-long boulevard that serves as a natural extension of the Makkah mosque, as well as green spaces and several integrated cultural and social facilities. It also has two shopping malls, as well as international hotels and serviced apartments with five, four, and three stars. Once complete, the project will offer 33,300 parking lots.
According to Umm Al Qura, the plans takes into account the geological aspects of Makkah, especially where the implementation of utilities such as car parking facility, telecom, electricity and the sewage network is concerned.
Masar is a leading development and investment project that aligns with the Kingdom’s Vision 2030. The project will add thousands of hotels and residential units to the holy city, the first of which will be launched in 2023, including a series of international hotels such as Kempinski, Hilton and Taj. It also strives to increase the number of Umra-pilgrims to 30 million by 2030.
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