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Umm Al Qura for Development and Construction Company (Masar) announced that two land reservation agreements with Mosa Abdulaziz Almosa and Sons Group Real Estate Holding have expired without closing. The non-completed transactions involved two plots of land within the Masar Destination in Makkah, originally spanning 4,886 square meters and valued at approximately SAR 438.82 million.
According to the statement filed on Tadawul, Masar will retain the initial reservation deposits received from the buyer, recognizing them as other income in line with the terms of the original agreement. The company reassured investors that strong market interest and sustained demand for high-value real estate opportunities within Makkah will allow it to quickly negotiate new sales for the same properties.
The initial reservation agreements were signed in September 2025 and subsequently extended in March. Real estate analysts note that while the deal collapse delays projected capital realization, retaining the initial non-refundable deposits provides immediate ancillary revenue for Masar without forfeiting the underlying high-value land assets.
