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Umm Al Qura for Development and Construction Company (Masar) has launched a unified property ownership digital platform for its Masar destination, a mega mixed-use development in Makkah, according to a news report.
The platform aims to provide accurate and up-to-date information on all developers, enhancing transparency, CEO Yasser Abu Ateeq told CNBC Arabia.
The platform is ready for launch and will be connecting prospective investors directly with developers, he said.
The company is currently working with 23 developers on 74 land plots, representing nearly 36 percent of the project area.
Ten agreements were signed in 2025 and will be activated during 2026, with total expected sales exceeding SAR 1.9 billion ($507 million), Ateeq said.
Total investment in the Masar destination has crossed SAR 38 billion ($10 billion) so far, the CEO said, adding that the project may be completed earlier than 2039 due to high demand.
This month, the developer appointed two new contractors for the superstructure works on seven hospitality towers and two shopping centres across eight land plots within Masar Destination.
The SAR100 billion ($27 billion) Masar Destination consists of 205 investment plots and covers a total area of 64 hectares.
(Writing by P Deol; Editing by Anoop Menon)
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