UAQ SHOWCASES INVESTMENT OPPORTUNITIES IN MASAR DESTINATION TO BANQUE SAUDI FRANSI DELEGATION
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Umm Alqura for Development and Construction (UAQ), the owner and main developer of Masar destination in Makkah, welcomed a delegation from Banque Saudi Fransi (BSF) headed by Mr. Mazen Hani Al Tamimi, Head of the Institutional Banking Group. During the visit, the delegation learned about the project and its components as well as its contribution towards transforming the future of the holy city for residents and pilgrims.

Highlighting the significance of the project as a new modern landmark in Makkah, UAQ delivered a comprehensive presentation that shed light on investment opportunities provided by the Masar in the area surrounding the Holy Mosque, including residential complexes, international hotels, government service outlets, and several integrated cultural, entertainment, and commercial amenities.

Following the presentation, the members of the visiting delegation went on a conducted tour of the project, where they reviewed the progress of infrastructure development in accordance with the timeline for the completion of various development projects, including bridges, tunnels, Makkah metro stations and parking garages, as well as pedestrian walkways and tunnels, among others.

The delegation members praised the efforts of UAQ to implement the project’s integrated developmental structure in accordance with the highest international standards and expressed their hope of continuing cooperation between UAQ and BSF to accomplish the two organizations’ joint objectives.

The Masar destination in Makkah is a leading development and investment project in line with Saudi Arabia’s ambitious Vision 2030. The project’s overarching aim to serve the city’s residents and visiting pilgrims by facilitating their access to the Holy Mosque and improving their experience, aligned with the directives of the Kingdom’s leaders to increase the number of pilgrims to 30 million by the year 2030.

The infrastructure development phase of the 3.6-kilometer road project, with a total area spanning 1.2 square kilometers, is expected to be completed by 2021. The project will add thousands of hotel and residential units to the Holy Capital, the first batch of which will be inaugurated in 2023, including a chain of international hotels such as Kempinski, Hilton and Taj.