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RIYADH: Al-Zamil Real Estate Development Co. has signed a SR500 million ($133 million) acquisition deal with Masar Makkah’s developer Umm Al-Qura Development and Construction Co. to buy one of its residential towers.
The agreement reflects Al-Zamil company’s commitment to provide the highest levels of real estate development services for luxury housing solutions to support the accommodation and hospitality sector, Saudi Press Agency reported.
Masar Makkah was developed by Umm Al-Qura Co. for the development and construction of services and amenities to serve Makkah residents, visitors and pilgrims and facilitate their access to the Grand Mosque.