Omnia MarketsLaunch · Saudi Arabia
Masar Makkah towers planned on three sold plots.
Umm Al Qura for Development and Construction says three residential towers will rise on land sold inside Masar Destination for a total project sale value of 441.1 million Saudi riyals.
On 5 November 2026 Zawya reported that Umm Al Qura for Development and Construction Company, trading as Masar, told the Saudi stock exchange three residential towers will be built on three land plots sold inside Masar Destination in Makkah. Masar put the total sale value of these projects at 441.1 million Saudi riyals (117.17 million dollars).
Zawya named the purchaser as Watheeq Real Estate Opportunities Second Fund Company. It said that vehicle sits under Watheeq Ajdan Real Estate Fund and is run by Watheeq Capital. According to the same report, book value across the three sites stands at SAR 214.31 million and the land measures 7,387 square metres in all. Masar did not give a start or end date for construction.
From the JournalRiyadh vs Jeddah: where to live, and what changes by neighbourhood.Our take
Omnia Desk
More Masar tower stock is signalled; freehold maps and fee rules do not move.
This is a pipeline notice for buyers watching Makkah residential supply, not a rewrite of what a foreign buyer can own. Three towers on 7,387 square metres of sold land add future units at Masar Destination once construction dates appear; they do not open new freehold zones or change the checks already on the books.
Our Gulf Buyer Costs & Ownership Tracker still frames the deal costs: Saudi Arabia combines 5% RETT with a 2% non-Saudi fee on a sale in Makkah, and property-level eligibility must be confirmed in the Saudi Properties record. Title work in the wider region is tightening on its own track through first registration windows, separate from this land sale.
For anyone weighing Makkah stock, the practical next step is the same as before this statement: watch for unit release, Wafi escrow terms if off-plan, and verified title. The sale value and book value figures mark developer economics on the plots; they are not a price band for finished homes a buyer can bid on today.
Sources
About Omnia Markets- 1Zawya · 5 November 2026Masar Destination in Makkah to get 3 residential towers(opens in a new tab)
From across Omnia
More on Saudi Arabia, from Omnia.
Report
The Gulf Buyer Costs & Ownership Tracker.
A dated comparison of headline acquisition charges, foreign-ownership access, property-linked residence thresholds and the next official-source review across eight Gulf regimes.
Guide
Plot, built-up and internal area: reading a Saudi home plan.
Compare plot, gross floor, built-up and internal area using ROSHN Group and Mohammed Al Habib examples, including a worked price-per-metre calculation.
Journal
Moving to Riyadh with a family: schools, neighbourhoods and the first home.
A school’s campus and curriculum can narrow the housing search more effectively than a list of the city’s most popular districts. Here is how the choices connect.
Report
Mohammed Al Habib residential portfolio atlas, 2026.
A source review of ten Mohammed Al Habib projects, with original capacity analysis, home-format comparisons and alternatives from the wider Riyadh and Jeddah market.
The Omnia Markets briefing
The markets, with our take, by email.
The stories that move these markets, and what they mean for a buyer, as they break.
