Umm Al Qura for Development & Construction
Makkah-headquartered Umm Alqura for Development and Construction was established with a developmental vision that aims to serve Makkah residents and visitors and transform the city into an advanced city by undertaking the development and growth of the Holy Capital.
Led by CEO Yasser Abuateek, the company has been working to develop the 1.2km2 King Abdul Aziz Road project in Makkah. In March 2022, Umm Al Qura for Development and Construction 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 $798mn (SAR3bn).
Located on a 1.25 million m2 area in Makkah, the project comprises a 3,650-metre-long boulevard as a natural extension of Makkah mosque in addition to green spaces, and many integrated cultural and social facilities.
One of the most significant achievements of the company has been the launch of Alinma Makkah Real Estate Development Funds in partnership with Alinma Investment Company with an investment value exceeding $4.5bn (SAR17bn). This included the development and construction of seven hotel towers and two commercial complexes will be developed within the Masar development.
