On June 1, 2026, Umm Al Qura for Development and Construction Company announced receiving two letters of award dated May 31, 2026, from the Royal Commission for Makkah City and Holy Sites for the development of Hindawiya West and Hindawiya South sites adjacent to Masar Destination. The consortium comprising UAQ, Makkah Construction and Development Company, and Al Rajhi United Real Estate Company will develop the combined 1,149,596 square meters through a Real Estate Investment Fund with an initial estimated cost of SAR 6 billion. The project involves infrastructure development where UAQ serves as consortium leader and development manager, Makkah Construction acts as financial partner, and Al Rajhi United handles technical execution. The awards require completion of regulatory and contractual requirements including framework agreement execution, with financial impact to be determined as developments progress.

Original announcement:

Attached PDF document link:

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.