Umm Al Qura for Development and Construction, the owner and developer of the MASAR destination in Makkah, hosted a delegation of the Islamic Chamber of Commerce, Industry and Agriculture on Dec. 17 December to showcase the destination’s inspiring investment potential as well as its strategic location and world-class infrastructure.
The visiting delegation comprising 50 members of the Islamic chamber was led by its chairman, Abdullah Saleh Kamel. The visit kicked off with the MASAR Exhibition Tour, during which the delegates were introduced to the project’s urban model experience, investment map overview, and progress to date. A short video highlighting the significance of MASAR City Center as an ideal destination for investment and economic activities, and its unique geographical location next to the Holy Mosque, was also presented before the delegation. MASAR’s world-class infrastructure being built in accordance with the newest standards that enable it to thrive for the next 100 years was also highlighted.
The visitors were briefed about MASAR’s diverse range of opportunities for investors in sectors such as hospitality, food and beverage, accommodation, and mobility. Presenting the destination's potential as a smart urban destination and a holistic investment ecosystem that offers sustainable long-term returns, the event highlighted its unique competitive advantages as well as its objective to enhance the experience of the pilgrims and residents of Makkah by delivering world-class services in line with the highest global standards.
Kamel said: “We are pleased that the ICCIA delegation’s visit to MASAR was a success as it offered us an opportunity to witness the transformation taking place in Makkah. The project embodies the farsightedness of the wise leaders of the Kingdom in their vision for the development of the city. We also recognize that MASAR aims to become an attractive destination for local and international investors looking for safe, sustainable and lucrative returns.”
Yasser Abuateek, CEO of UAQ, said: “We are honored and delighted that the distinguished Islamic chamber delegation visited MASAR and appreciated the progress of development works and the investment potential the destination holds. With its pioneering concept and integrated infrastructure that are set to redefine urban life and commerce, MASAR has joined the league of the new prominent development projects underway in Saudi Arabia, while it has emerged as one of the most promising destinations for institutional investment in the Kingdom due to its significance, strategic location and low-risk nature.”
Located in the western part of Makkah and spanning a total area of 1.25 million sum, the MASAR destination is characterized by its focus on implementing an integrated development structure based on the concept of comprehensive mobility. The project is 3,650 meters long and 320 meters wide, starting from the border of the Third Ring Road at the entrance of the Makkah-Jeddah Highway from the west, and passes the First Ring Road at the western border of Jabal Omar, outside the perimeter of the Holy Mosque of Makkah. Some of its remarkable features include a 3.65-km-long pedestrian boulevard, a number of service tunnels, pedestrian pathways, ample car parking, a state-of-the-art Metro system, and a Bus Rapid Transit Network. Once complete, MASAR will be home to world-class hotels and residential units, together with an extensive range of retail, dining, and cultural attractions, government centers, and open public spaces, all of which will be connected by innovative mobility solutions.
The MASAR destination is owned and developed by the Umm Al Qura Development and Construction Company, a closed joint-stock company with a developmental vision that has shareholders from the private sector and state-owned investment funds included: the Public Investment Fund, the General Organization for Social Insurance, and more. The company aims to build and operate 38,000 hotel rooms and 13,000 residential units through long-term investment channels, including 58 hotels, 59 residential buildings, 82 hotel apartments, and several commercial centers on the combined land area of around 690,000 sqm across the 205 development plots, using innovative technologies to help create a safe, accessible, and more sustainable environment for pilgrims and residents.
