Umm Alqura to complete work on $719m Makkah mall by 2026
RIYADH, June 21, 2022
Saudi-based Umm Alqura for Development and Construction has announced plans to build a mega shopping destination, Masar Mall in Makkah at a total investment of SR2.7 billion ($719 million).
The project, being developed as part of Masar Destination, a cultural project in the western part of Makkah, is due for completion in 2026.
Umm Alqura for Development had sealed a strategic partnership deal with Saudi-based Hamat Holding for the development of Masar Mall over a 71,000-sq-m area.
Strategically located on the western entrance to the Masar Destination opposite the Haramain train station, the retail development will provide more than 130,000 sq m of shopping space, suitable for various activities.
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," said a spokesman for Umm Alqura for Development.
"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," he added.-TradeArabia News Service
