Saudi Developer Umm Al Qura unveils SAR 50bn growth strategy, accelerates multi-city expansion across western Saudi Arabia

Umm Al Qura for Development & Construction Company has launched a sweeping new five-year growth strategy targeting the management of an additional development portfolio exceeding SAR 50 billion, as the Makkah-based real estate developer formally transitions from a single-destination developer into a multi-city urban development platform across Saudi Arabia’s western region.

The company’s 2026–2030 strategy, unveiled this week, signals a significant inflection point for one of Saudi Arabia’s most closely watched listed developers. Having completed the core infrastructure of its flagship Masar Destination in Makkah and successfully transitioned into full-scale operations, Umm Al Qura is now pivoting toward a carefully structured expansion spanning three of the Kingdom’s most strategically important cities: Makkah, Madinah, and Jeddah.

From Destination Developer to Regional Development Platform

The strategic pivot is deliberate and clearly articulated. For the past five years, the company operated under a 2021–2026 roadmap focused on building institutional capability and delivering Masar Destination’s core infrastructure. That phase is now complete. With a listing on the Saudi Exchange (Tadawul) secured, investor confidence established, and a scalable operating model in place, management is now deploying that foundation toward portfolio-level expansion.

Importantly, the new strategy prioritizes sustainable growth over expansion for its own sake. Capital allocation will be disciplined: the company targets incremental investment of between SAR 3 billion and SAR 5 billion over the five-year period, balanced against return optimisation and financial flexibility. The overall development portfolio managed under the strategy is expected to surpass SAR 50 billion.

Second Destination: Masar Gardens

Alongside the strategy announcement, the company confirmed it has received two letters of award for the development of the Hindawiya West and Hindawiya South sites in Makkah — collectively branded as “Masar Gardens”. The 1.2 million square-metre project sits adjacent to the existing Masar Destination and has been awarded to a consortium comprising Umm Al Qura for Development and Construction, Makkah Construction and Development Company, and Rajhi United Real Estate Company.

The award effectively marks the company’s second major urban destination in Makkah, reinforcing the contiguous urban development cluster that Masar Destination anchors.

“The launch of our new strategy represents a pivotal turning point in the company’s journey, as we move from a phase of capability building to one of considered expansion. The achievements of the past years have provided us with the confidence, expertise, and readiness to advance toward managing a fully integrated portfolio of urban destinations. Through this, we aim to create sustainable value for people, places, and investors within a robust governance framework that supports continued growth and contributes to generating long-term impact across the western region.”

— Yasser Abdulaziz Abuateek, CEO, Umm Al Qura for Development & Construction

For investors tracking listed real estate developers on the Saudi Exchange, the combination of a clear multi-year financial roadmap, a disciplined capital allocation framework, a proven operational base, and exposure to three of the Kingdom’s highest-footfall cities positions Umm Al Qura as a developer to watch as Saudi Arabia’s next phase of urban transformation unfolds.

For further information, visit: https://www.ummalqura.com.sa/en/new-strategy-2030