Umm Al Qura has announced the unveiling of Masar Gardens, a mixed-use urban destination in Makkah featuring residential, commercial, hospitality, and public-use components backed by extensive infrastructure, green spaces, pedestrian pathways and modern mobility solutions over a 1.2m sqm area.
With an initial infrastructure and land investment of US $1.6bn, the project is designed to contribute to Makkah’s long-term urban development objectives, while enhancing quality of life and strengthening the city’s attractiveness as an investment destination.
Set to be developed over a 5-year period, Masar Garden comes as part of Umm Al Qura’s new growth strategy aimed at boosting its transformation from a single-destination developer into a diversified urban destination and investment platform across the kingdom’s Western Region.
The new strategy targets expanding Umm Al Qura’s development portfolio beyond its flagship Masar Destination, with future projects planned across Makkah, Jeddah, and Madinah, said a top official.
The company aims to create a diversified portfolio of urban destinations valued at more than US $13.2bn, while attracting new investment opportunities and strategic partnerships, remarked its CEO Yasser Abuateek.
“Umm Al Qura is leveraging its proven development expertise and institutional capabilities to deliver long-term value for investors, communities, and the wider economy,” it stated.
The announcement reflects the company’s broader vision of developing scalable urban destinations that support Saudi Arabia’s economic diversification ambitions and create sustainable growth opportunities for local and international investors, he added.
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