Masar sold 7,387 sqm of land for SAR 441.1 million, freeing cash for its Mecca project pipeline. The deals close in Q2 2026.
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Umm Al Qura for Development & Construction Co. (Masar) signed three land sale agreements worth a combined SAR 441.1 million, the company said in a filing. The deals cover 7,387 square meters of land.
The counterparties were not named in the filing. Masar said the transactions are part of its asset monetization strategy and will be funded from internal resources. The sales are expected to close in the second quarter of 2026.
The agreements free up cash for a developer that has been managing a heavy project pipeline in Mecca. Masar's backlog includes the Masar Destination mixed-use development and several hospitality projects tied to the Hajj and Umrah infrastructure buildout.
Land sales of this size suggest the company is rotating capital out of undeveloped holdings and into active construction, where margins are tighter but revenue recognition is faster. The SAR 441 million in proceeds represents roughly 8% of Masar's market capitalization before the announcement.
Shares of Masar traded higher on the Saudi Exchange following the disclosure. The stock is up about 12% year to date.
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