‎Umm Al Qura for Development and Construction announces early execution of land reservation, sale deal with Numu, with SAR 700M investments to develop serviced apartment tower at Masar Destination

‎<p ><img src="https://argaamplus.s3.amazonaws.com/71c23a9e-8569-4bdb-b2af-a50147407e4a.png" ></p> <p class="ckeCaption" >Logo of Umm Al Qura for Development and Construction Co. (Masar)</p> <hr> <p ><span ><span ><a href="https://www.argaam.com/en/tadawul/tasi/masar" target="_blank">Umm Al Qura for Development and Construction Company</a>, the owner, developer, and operator of Masar Destination, has signed an agreement with Numu to develop a serviced apartment tower in the central district of Masar destination. The project will feature approximately 460 hospitality units and is expected to attract nearly SAR 700 million in investment, with Numu carrying out the development works.</span></span></p> <p ></p> <p ><span ><span >In a statement, Umm Al Qura said the agreement supports its efforts to attract high-quality investments to Masar Destination and expand its hospitality offerings in response to the growing demand for accommodation in Makkah. It will further diversify the destination’s real estate and hospitality offerings, enhance the visitor experience, and contribute to raising service standards for pilgrims and visitors to the Holy City.</span></span></p> <p ></p> <p ><span ><span >Commenting on the agreement, <strong>Mr. Yasser Abuateek, Chief Executive Officer of Umm Al Qura for Development Construction</strong>, said: "This agreement highlights the strong investment appeal of Masar Destination and the opportunities it offers for high-quality development, particularly in the hospitality sector. Through our partnerships with investors and developers, we are creating a vibrant mixed-use urban destination that enhances the quality of life for Makkah’s residents and enriches the experience of its visitors, while generating sustainable economic value in the Holy City."</span></span></p> <p ></p> <p ><span ><span >For his part, <strong>Fouad Ahmad Al Omari, Chief Executive Officer of Numu</strong>, said: "This agreement marks a strategic milestone in our growth journey and reflects our commitment to expanding our investments in the hospitality sector while capitalizing on the promising opportunities emerging from Makkah’s continued development. We are pleased to partner with Umm Al Qura for Development Construction on this project, and look forward to delivering a distinctive hospitality project within Masar Destination that meets the expectations of Makkah’s visitors and offers modern, high-quality accommodation options in the Holy City."</span></span></p> <p ></p> <p ><span ><span >Masar Destination is one of Makkah’s prominent urban developments that brings together residential, hospitality, retail, and service offerings within an integrated destination supported by modern infrastructure and 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.</span></span></p>

Publication

Argaam - Main News · Trade Publication

Published

22nd September 2026

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argaam.com

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