Umm Al-Qura for Development and Construction Company, owner and developer of Masar — the SR100 billion destination — successfully concluded its participation in the sixth edition of the Future Investment Initiative conference as a strategic partner.
The conference was held from Oct.25-27 in Riyadh under the theme “Investing in Humanity: Enabling a New Global Order.”
Mohammed Al-Jadaan, Minister of Finance, and Yasir Al-Rumayyan, Governor of the Public Investment Fund visited the Masar Destination’s booth and commended the achievements, affirming the importance of the destination and its promising future.
The booth also attracted several local, regional, and international business leaders, who were keen on learning and getting acquainted with the destination and the diverse investment opportunities it offers.
Visitors were impressed with the three-dimensional model on display in the lobby of the Ritz Carlton Hotel, showing the urban development landmarks that Masar will initiate in the heart of the Holy City of Makkah.
On the sidelines of the conference and in the presence of Saleh Al-Rasheed, CEO of the Royal Commission for Makkah and the Holy Sites, Masar Destination announced the signing of agreements with international companies to develop and operate hotel projects comprising 7 hotel towers worth $2 billion.
This initiative is a step forward in enriching the quality of life in Makkah in accordance with the global destination industry standards.
Yasser Abuateek, CEO of Umm Al-Qura Company for Development and construction, was part of a panel discussion titled “Destination KSA,” where he presented an overview on the current developments in Masar destination.
A discussion panel titled "Holistic Tourism”, powered by Masar, also took place during which the participants discussed the promising future of tourism and hospitality sectors.
In July, Masar signed a strategic partnership contract with the Future Investment Initiative Institute driven by its eagerness to contribute effectively to the work of the institute and its endeavor to have a positive impact on humanity through its four values: Artificial intelligence and robotics, education, health, and sustainability.
