First integrated investment system for 100 years in Makkah
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March 28 2022

First integrated investment system for 100 years in Makkah

Front view of Masar Destination

“Masar” Destination:

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Makkah remains a sustainable investment attraction throughout the ages, due to its historical importance and spiritual status for Muslims, in addition to the great and continuous interest it receives from the wise leadership in the Kingdom of Saudi Arabia, as they support various projects aimed at the comfort of the pilgrims, which strongly makes Makkah an essential destination for investment, driven by elements that may not be available in any region around the world.

 

Makkah has received an average rating by the City Prosperity Index according to the Ministry of Municipal and Rural Affairs and Housing and the United Nations Human Settlements Programme in their report developed by the Future Saudi Cities Programme. The report refers to the most important axes that Makkah performs on a medium basis, and they are: infrastructure, quality of life, environmental sustainability, productivity, governance and urban legislation, as well as social integration. The report reflects the direct relationship between the state of city prosperity, according to the axes mentioned in the report, and the availability of a flexible and competitive economy, which in turn is considered one of the most important catalysts for investment.

 

Therefore, Masar destination, with its strategic location in the center of Makkah, is one of the most important enablers of the report’s axes, which in turn contributes to the rise in the indicator of the general prosperity status of the city of Makkah, and it thus creates an economic environment that attracts institutional investment. Masar has employed the latest urban destination industry strategies, including planning and design enhanced with modern services and facilities, and an infrastructure prepared for the next hundred years, within the framework of environmental, social and institutional governance, taking into account its requirements and indicators.

 

"Masar" destination provides an investment platform with an integrated system, the first of its kind in Makkah. This system comes with various investment channels and flexible solutions aimed at attracting institutional investment in the sectors of hospitality and housing, Hajj and Umrah services, religious tourism, entertainment, health, transportation and others, supported by the quality of its facilities and services from commercial and public facilities to enrich the experience of the pilgrims and Umrah visitors to Makkah and enhance the quality of life for the city’s residents.

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This integrated investment system is the basis for institutional investment in the heart of the holy Makkah, which in turn will contribute to building a new and diversified investment base with high quality standards that will add to the GDP of the holy Makkah, help to achieve the aspirations and targets of vision 2030 and contribute to keeping Makkah in line with the global growth indicators of cities through long-term, safer and less risky investment opportunities.

 

The strategic destination in the Makkah city centre, just 550 metres from the Al-Haram Mosque, is a competitive attraction and a fundamental catalyst for institutional investment. Unlike rising and renewable cities, where the location of the city centre changes with changing growth and urbanization requirements, and which may have a negative impact on their long-term investment viability and returns, Makkah has been firmly situated in the heart of the Holy Capital over the years, ensuring secure investment opportunities with long-term sustainable returns.

 

Masar destination has a range of components that lead it to be on the list of long-term investment seekers with economic benefits and sustainable futures. It has diverse investment opportunities according to the global destination criteria planned by Umm Alqura for Development and Construction. It is noteworthy that the completion rate in the infrastructure of Masar destination exceeded 68%, and work continues on the implementation of investment plans for development plots at the destination. A set of memorandums of understanding between the company and investment destinations has been signed in various sectors in connection with the implementation of a series of buildings, consisting of global hotels, hotel apartments and commercial centres in Makkah, and Masar destination will be ready for public offering during the 2022.

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