Umm Al Qura for Development & Construction Strengthens Urban Landscape with New Five-Year Strategy and Launch of Masar Gardens in Makkah
MAKKAH, SAUDI ARABIA – On June 4, 2026, Umm Al Qura for Development & Construction Company announced significant advancements in its urban development initiatives. The company has received two letters of award for the development of the Hindawiya West and Hindawiya South sites, which are adjacent to the Masar Destination. These projects, collectively named “Masar Gardens,” will cover a total area of 1.2 million square meters and have been awarded to a consortium that includes Umm Al Qura for Development & Construction Company, Makkah Construction and Development Company, and Rajhi United Real Estate Company. This announcement aligns with the company’s new five-year strategy for 2026–2030, marking a pivotal shift in its business model.
Strategic Transformation in Urban Development
The new strategy signifies a transformation from focusing solely on a flagship destination to establishing a multi-destination urban development platform across the western region of Saudi Arabia. This shift is crucial as it enhances the company’s capacity to manage a diversified portfolio of urban and investment destinations, aiming for long-term economic and urban impact in key cities such as Makkah, Jeddah, and Madinah.
The unveiling of this strategy follows the successful completion of the company’s previous five-year roadmap (2021-2026), which facilitated significant institutional transformation. This journey included the completion of the main infrastructure at Masar Destination and its transition into operational status. The company also developed a robust investment and financial platform, enhancing its institutional capabilities.
Financial Performance and Market Positioning
Umm Al Qura’s achievements have been bolstered by its listing on the Saudi Exchange (Tadawul), which has strengthened investor confidence and positioned the company for large-scale expansion. Between 2021 and 2026, the company established a scalable business model, achieving a compound annual growth rate exceeding 60% in revenues and over 45% in net profit. Operating cash flows surpassed SAR 2 billion in the most recent fiscal year, and the company attracted approximately SAR 40 billion in development investments.
Additionally, Umm Al Qura forged more than 30 strategic partnerships and developed a comprehensive governance framework, which supports sustainable growth and prepares the company for its next phase.
Focus on Sustainable Value Creation
The new strategy emphasizes a selective expansion approach, prioritizing sustainable value for communities and investors over merely increasing the number of projects. This will be achieved through the development of high-quality urban destinations in Makkah, Madinah, and Jeddah, with a targeted geographic focus that enhances operational integration and optimizes resource deployment.
The company aims to manage an additional development portfolio exceeding SAR 50 billion, with incremental capital investments ranging from SAR 3-5 billion throughout the strategy’s duration. This approach balances growth with maximizing returns while maintaining financial flexibility.
Flexible Operating Model and Future Plans
Umm Al Qura will adopt a flexible operating model, allowing it to act as a master developer or participate as a partner and development manager. This model aligns with defined investment criteria, ensuring strategic decision-making that supports the company’s objectives.
Masar Destination will remain a cornerstone of the company’s future portfolio, with ongoing development of its extensions and expansions according to approved plans. As the flagship project, Masar continues to serve as the foundation for the company’s activities and the model for launching new urban destinations that enhance quality of life and support economic growth in targeted cities.
Yasser Abdulaziz Abuateek, CEO of Umm Al Qura for Development & Construction, stated that the launch of the new strategy represents a pivotal turning point in the company’s journey. The achievements of recent years have equipped the company with the confidence and expertise to manage a fully integrated portfolio of urban destinations. This strategy aims to create sustainable value for communities and investors within a robust governance framework that supports continued growth.
Commitment to Saudi Vision 2030
This strategic direction reaffirms Umm Al Qura for Development & Construction’s commitment to the objectives of Saudi Vision 2030. The company aims to develop high-quality urban destinations that enhance the quality of life, stimulate investment, and strengthen economic integration, all driven by a model focused on value creation and sustainability.
For further information, visit Umm Al Qura’s new strategy page.
Source: www.zawya.com
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