Saudi: Umm Al Qura pens sale deal for Masar Destination project
With an investment exceeding SAR 235 million, the company inked the contract with Wijhat Albait Real Estate Company, the SPV for Wijhat Albayet Fund, which is managed by Dinar Company, on 8 July 2025.
The deal, which has an asset book value of SAR 132.39 million, is expected to positively impact the company's liquidity and financial results.
Meanwhile, the proceeds of the asset's sales will be used to finance working capital and ongoing projects.
Umm Al Qura recently signed a tripartite deal to launch a real estate private fund, with an estimated capital of SAR 1.40 billion.
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