Umm Al Qura for Development and Construction, the Saudi-based real estate developer, has said that it has signed an agreement with Al Diar Al Arabiya Company for the construction of 10 new residential towers at Masar residential community development within Makkah City, at an investment of $798 million.
In a statement, the developer said that its development and investment vision for the urban destination aims to enhance the quality of life for residents of Makkah and for pilgrims and Umrah pilgrims. It is characterised by its strategic location in the centre of the Saudi city.
It added that the development, with King Abdul Aziz Road as the core component, has been carefully planned, with complementary, interrelated foundations, including environmental and urban aspects.
Situated on a 1.25 million sqm area in Makkah, Masar features a 3,650-m-long boulevard as a natural extension of Makkah Mosque, along with green spaces, and many integrated cultural and social facilities.
It also encompasses two malls, together with five, four and three-star international hotels and serviced apartments. Once complete, the project will offer 33,300 parking lots.
According to Umm Al Qura, the plans take into account the geological aspects of Makkah, especially with regards to the implementation of utilities such as car parking facility, telecommunications, electricity and the sewage network.
