Economy/investment of 2.7 billion SAR to develop and operate the largest mall in Makkah in 2026
Makkah 30 Jumadi I 1443 AH, 03 January 2022 (Saudi Press Agency)
In partnership with Hamat Holding, Umm Alqura for Development and Construction, the owner and executor of Masar destination signed a partnership agreement to develop and operate the largest mall in Makkah “Masar Mall" with an investment volume of up to SAR 2.7 billion, and work is set to be completed in 2026.
The agreement, which was signed by Yasser Abu Atiq, CEO of Umm Al-Qura for Development and Construction, and Saleh Al-Habib, Hamat Holding’s chairman, provides for the development of the mall's facilities and amenities, creating many direct and indirect job opportunities.
The mall will be developed over a 71,000 square-meter area and will provide more than 130,000 square meters of shopping space, suitable for various activities. The mall is strategically located on the western entrance to the destination of "Masar" opposite Al Haramain Train Station, giving its visitors easy access through the Third Ring and King Abdulaziz North and South roads. The mall will feature many specifications and advanced equipment, which reflect an exceptional value for investment, and establish unique horizons in the Kingdom’s shopping and entertainment industry.
Masar is a modern destination with a developmental and investment vision, and when it ends it will constitute a modern landmark with multiple capabilities and advantages. It will contribute to enhancing the quality of life for the residents of Makkah and its guests, and will provide a diversified integrated system that attracts investment in a number of basic sectors, to make Makkah an attractive destination for long-term investment.