Acquisition Agreement between Masar Destination, Scope International with Investments of up to SAR900 Million to Build Residential Towers in Makkah

Makkah, September 11, 2023, SPA — Umm Al Qura for Development and Construction, the owner and developer of Masar Destination, has revealed an acquisition agreement with Scope Properties for the construction of residential towers in collaboration with international operators, involving investments of up to SAR 900 million.
This announcement was made during their participation in the Cityscape Global Exhibition, where they represented Masar Destination as a partner. The total investments drawn to date for Masar Destination have now reached SAR 40 billion.
This strategic move is aimed at bolstering and advancing the accommodation and hospitality sectors in Makkah, with the ultimate goal of significantly enhancing the experience of pilgrims and Umrah performers in this holy city.
19:24 Local Time 16:24 GMT