On July 12, 2026, Umm Al Qura for Development and Construction Company (UAQ) announced the signing of reservation agreements dated July 9, 2026, to sell three non-boulevard-facing plots of land totaling 7,387 square meters within Zone 2 of Masar Destination in Makkah. The agreements were signed with Watheeq Real Estate Opportunities Second Fund Company, the SPV of a real estate fund managed by Watheeq Capital, for a total agreed sale value of SAR 441,098,920 (first plot: SAR 145,001,413; second plot: SAR 143,728,049; third plot: SAR 152,369,458). The Fund intends to develop residential units on the plots and will pay a deposit upon reservation, with final sale agreements to be executed before the reservation agreements expire on November 1, 2026. The transactions are expected to have a positive impact on UAQ's liquidity and financial results upon completion or expiry of the agreements.

Original announcement:

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