[Riyadh, Kingdom of Saudi Arabia]– Al Khomasiah Group announced the signing of a strategic agreement with Umm Al Qura for Development and Construction and BLME to develop two residential towers in Masar destination in Makkah, with investments exceeding one billion Saudi riyals. The announcement was made during Cityscape Global 2025 in Riyadh, in a step that reflects Al Khomasiah’s expansion in high-quality urban development projects in Makkah and Madinah.
The project comprises 547 residential units in the third zone of Masar destination, a zone distinguished by its proximity to the shopping mall and the Haramain High-Speed Railway station. The units are designed in a contemporary style that balances construction quality and layout flexibility, making the project a suitable option for the growing demand for modern housing in Makkah.
Under the agreement, Al Khomasiah Real Estate Development will undertake the development of the project, reflecting the Group’s aspirations to expand its portfolio of high-quality real estate assets within the Kingdom.
Commenting on the agreement, Mr. Ammar Baroum, Chief Executive Officer of Al Khomasiah Group, said: “Masar adds to our ongoing development initiatives in Makkah and Madinah, highlighting the trust our partners place in Al Khomasiah to deliver well-designed, high-quality projects for residents and investors.”
Baroum added: “This partnership supports Al Khomasiah’s presence in the real estate sector through projects that enhance the urban environment in Makkah and Madinah, while also strengthening investment returns. The Group continues to implement expansion plans that deliver more integrated and sustainable projects in line with urban development requirements in the Kingdom.
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