Umm Al Qura for Development and Construction Company (The Owner, Developer and Operator of "Masar" Destination) announces the Sale of two plots of land within Masar Destination
| Element List | Explanation |
|---|---|
| Transaction Details | Signing of a Sale Agreement for two plots of land with a land area of 5,500.08 square meters within Masar Destination Project in Makkah Al-Mukarrama |
| Transaction Amount | 275,004,000 Saudi Riyals (excluding any associated taxes and fees which are borne by the buyer) |
| Transaction Conditions | None |
| Parties of the Transaction | First Party:
"Al-Inma First Development Company Limited and Al-Inma Second Development Company Limited (The two SPVs for Al-Inma Makkah Development Fund I and Al-Inma Makkah Development Fund II respectively, all the units of both funds are owned by Umm Al Qura for Development and Construction Company) " Second Party: Aswar Alpha Company (The SPV of a real estate fund managed by Alpha Capital) |
| Transaction Financing Method | Not Applicable |
| Date of Entering Into The Transaction | 2025-09-18 Corresponding to 1447-03-26 |
| Description of Activity of The Asset Subject of The Transaction | 2 Plots of land |
| Asset Book Value | 145,695,331 Saudi Riyal |
| Financial Statements for the Last Three Years of the Asset forming the Subject Matter of the Transaction | Not Applicable |
| Transaction reasons | Executing the development strategy for Masar Destination through the development of residential towers by the buyer |
| Expected Impact of the Transaction on the Company and Its Operations | Positive impact on the group's liquidity and financial results |
| Details of Using The Proceeds of the Asset Sale | Financing working capital and ongoing projects |
| Related Parties | Not Applicable |
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