Umm Al-Qura for Development & Construction Company, the owner, developer and operator of Masar Destination, has announced the receipt of two letters of award for the development of the Hindawiya West and Hindawiya South sites, both adjacent to Masar Destination.

The two projects have been awarded to a consortium comprising Umm Al-Qura for Development & Construction Company, Makkah Construction & Development Company and Rajhi United Real Estate Company. Together, the projects cover a total area of 1.2 million square metres and will be developed under the name Masar Gardens.

This announcement follows the company’s launch of its new five-year strategy for 2026-30. The development marks a strategic transformation in the company’s business model, reflecting its evolution from developing a single flagship destination to becoming a multi-destination urban development platform in the western region of Saudi Arabia.

Strategic expansion

The strategy also strengthens the company’s ability to manage a diversified portfolio of urban and investment destinations, generating long-term economic and urban impact across Mecca, Jeddah and Medina.

The unveiling of the new strategy comes in the wake of the company’s successful achievement of the objectives of its 2021-26 strategy, which served as a roadmap for its institutional transformation over the past five years. This journey led to the completion of Masar Destination’s core infrastructure and its transition into the operational phase, alongside the development of a mature investment and financial platform and enhanced institutional and operational capabilities.

These achievements were further reinforced by its listing on the Saudi Exchange (Tadawul), which strengthened investor confidence and positioned the company for a new phase of large-scale expansion built on its core strengths and focused on creating sustainable, long-term value for communities, people and investors.

Strong performance

From 2021 to 2026, the company successfully established an integrated, scalable business model driven by its accumulated expertise and strong financial performance. This included a compound annual growth rate exceeding 60% in revenues and more than 45% in net profit, alongside operating cash flows surpassing SR2bn in the most recent fiscal year.

The company also attracted approximately SR40bn in development investments for the destination, forged more than 30 strategic partnerships and developed a comprehensive governance framework. In parallel, it built advanced operational and development capabilities that support sustainable growth and enhance its readiness for the next phase of expansion.

Focused growth

The new strategy is anchored in a planned and selective expansion approach that prioritises delivering sustainable value for place, community and investors over increasing the number of projects. This will be achieved through the development of high-quality urban destinations in Mecca, Medina and Jeddah, within a carefully targeted geographic focus that enhances operational integration and maximises the efficient deployment of resources and expertise.

In this phase, the company is adopting a clearly defined approach to capital allocation, balancing growth with return maximisation while maintaining financial flexibility. It aims to manage an additional development portfolio exceeding SR50bn, while deploying incremental capital investments of between SR3bn and SR5bn over the course of the strategy, further reinforcing its ability to deliver sustainable long-term growth.

Flexible model

In parallel, the company will adopt a flexible operating model that enables it to lead projects as a master developer or participate as a partner and development manager, in line with defined investment criteria that support disciplined decision-making aligned with its strategic direction.

The company also confirmed that Masar Destination will remain a cornerstone of its future portfolio, with the continued development of its extensions and expansions in accordance with approved plans. As its flagship project, Masar will continue to serve as the foundation of the company’s activities and as the model for launching new urban destinations that enhance quality of life and support economic growth across its target cities.

Leadership vision

Commenting on the announcement, Yasser Abdulaziz Abuateek, CEO of Umm Al-Qura for Development & Construction, stated: “The launch of our new strategy represents a pivotal turning point in the company’s journey, as we move from a phase of capability building to one of considered expansion. The achievements of the past years have provided us with the confidence, expertise and readiness to advance towards managing a fully integrated portfolio of urban destinations.

“Through this, we aim to create sustainable value for place, community and investors within a robust governance framework that supports continued growth and contributes to generating long-term impact across the western region.”

This strategy reaffirms Umm Al-Qura for Development & Construction’s commitment to supporting the objectives of Saudi Vision 2030 by developing high-quality urban destinations that enhance quality of life, stimulate investment, and strengthen economic integration within a growth model driven by value creation and sustainability.

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