403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Umm Al Qura Unveils New Masar Gardens Project in Mecca
(MENAFN) Umm Al Qura for Development and Construction has announced plans for a major new urban project in Mecca, introducing Masar Gardens as the second destination within its growing development portfolio in Saudi Arabia.
According to the company, the new project is designed to complement the existing Masar Destination by providing an integrated urban environment that combines modern architecture, open public areas, and high-quality amenities intended to serve both residents and visitors.
The development is part of a broader five-year strategy aimed at expanding the company’s presence across western Saudi Arabia through a diversified range of urban and investment projects, reducing reliance on a single flagship destination.
Commenting on the announcement, Chief Executive Officer Yasser Abuateek said, “The launch of the new destination represents a pivotal step in the company’s journey toward diversifying its development portfolio and expanding its impact within the urban destinations sector.” He added that the initiative seeks to establish dynamic, community-oriented spaces while maintaining the distinctive character and identity of the area.
The project will be carried out through a strategic partnership structure involving several organizations. Under the arrangement, Umm Al Qura will oversee the project as alliance leader and development manager. A separate partner will provide financial support for compensation payments related to property owners, while another company will assume responsibility for technical development activities and associated costs in exchange for units in the investment fund. Final details are expected to be outlined in future agreements.
Reports indicate that Masar Gardens will be implemented in multiple stages, with each phase aligned with long-term sustainability and urban development objectives.
The destination is planned to span approximately 1.2 million square meters. The development area will include around 841,000 square meters in West Hindawiyah and roughly 308,000 square meters in South Hindawiyah, making it one of the significant urban expansion projects currently planned for Mecca.
According to the company, the new project is designed to complement the existing Masar Destination by providing an integrated urban environment that combines modern architecture, open public areas, and high-quality amenities intended to serve both residents and visitors.
The development is part of a broader five-year strategy aimed at expanding the company’s presence across western Saudi Arabia through a diversified range of urban and investment projects, reducing reliance on a single flagship destination.
Commenting on the announcement, Chief Executive Officer Yasser Abuateek said, “The launch of the new destination represents a pivotal step in the company’s journey toward diversifying its development portfolio and expanding its impact within the urban destinations sector.” He added that the initiative seeks to establish dynamic, community-oriented spaces while maintaining the distinctive character and identity of the area.
The project will be carried out through a strategic partnership structure involving several organizations. Under the arrangement, Umm Al Qura will oversee the project as alliance leader and development manager. A separate partner will provide financial support for compensation payments related to property owners, while another company will assume responsibility for technical development activities and associated costs in exchange for units in the investment fund. Final details are expected to be outlined in future agreements.
Reports indicate that Masar Gardens will be implemented in multiple stages, with each phase aligned with long-term sustainability and urban development objectives.
The destination is planned to span approximately 1.2 million square meters. The development area will include around 841,000 square meters in West Hindawiyah and roughly 308,000 square meters in South Hindawiyah, making it one of the significant urban expansion projects currently planned for Mecca.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
Comments
No comment