Umm Al Qura for Development and Construction Company
TTADAWUL:432515.06
SAR
-0.06
(-0.40%)
Umm Al Qura for Development and Construction Company
TADAWUL:4325
(Saudi Exchange)
Recent
price
15.06
P/E
ratio
30.53
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Umm Al Qura for Development and Construction Company (4325.SR) owns, develops, and operates Masar Destination, a large-scale urban redevelopment project in Makkah, Saudi Arabia; the company engages in real estate activities including the purchasing, selling, and dividing of lands and real estate, off-plan sales, and the management and leasing of owned or leased non-residential properties. Established in 2012 pursuant to Royal Decree 6258 M/B and headquartered in Makkah, the company focuses on creating a state-of-the-art integrated investment ecosystem located 550 meters from the Holy Mosque and 100 meters from the Haramain station, offering hospitality accommodations such as hotel rooms and serviced apartments, residential units, shopping malls, healthcare centers, offices, retail, entertainment, and mobility services to serve residents, visitors, and pilgrims while preserving Makkah's spiritual and cultural heritage. Masar Destination spans over 3.5 kilometers along Prince Mohammed bin Salman bin Abdulaziz Road from the third Ring Road intersection, with key infrastructure works 99.77% complete as of November 2024.[ipo page] The company targets the Makkah market, leveraging perpetual demand as the capital of the Muslim world, and operates primarily in Saudi Arabia with a low-risk business model emphasizing phased revenue streams, diverse development strategies, and asset types including land sales and partnerships for mixed-use towers, luxury residential units, and hotel apartments.[ipo page] It maintains a strong financial position with low leverage, supported by prominent shareholders such as government entities including the Public Investment Fund (PIF) and General Organization for Social Insurance (GOSI), which held significant stakes pre-IPO.[ipo page] Recent developments include its initial public offering in March 2025, offering 130,786,142 shares representing 9.09% of post-capital increase shares; multiple land sale and reservation agreements in 2025, such as a SAR91.8 million deal with Arabian Dyar Real Estate for a 3,061.58 sq m residential plot, a sale to a SEDCO Capital-managed fund for a residential tower, contracts with Wijhat Al Bayt Real Estate and Shulat Al-Wadi Real Estate, and a reservation model launch for land sales; strategic agreements in late 2024 including SAR1.3 billion with Qaid Development, SAR1.4 billion with Alramz for luxury residences, SAR1 billion with AlRajhi United Real Estate for hotel apartments, and one with Alpha Capital; a tripartite memorandum of understanding in July 2025; and an exclusive 15-year outdoor advertising concession with AlArabia. PIF divested a 3.3% stake in a SAR949 million transaction, and the company continues advancing Masar as Makkah's gateway destination aligned with Saudi Vision 2030.