Riyadh – Mubasher: Umm Al Qura for Development and Construction Company sold a plot of land within Masar Destination to Heyazah Osool Al Hejaz Development Company in exchange for SAR 210.76 million.
Heyazah, the SPV of a real estate fund managed by BlomInvest Company, will utilize the land for the purpose of developing hospitality units, according to a bourse filing.
Both sides inked the deal on 18 May 2026, agreeing on a book value of SAR 100.01 million.
This transaction will have a positive impact on liquidity and financial results, noting that the proceeds will be used to fund working capital requirements and ongoing projects.
In the first quarter (Q1) of 2026, the listed company generated net profits after tax valued at SAR 44.93 million.
