Skip to content
Development

Alramz Launches Masar Corner With 541 Units in Makkah

Masar Corner project launch by Alramz Real Estate at the Masar destination in Makkah

Masar Corner brings 541 units to Makkah

Alramz Real Estate Company has launched Masar Corner, a two-tower project at the Masar destination in Makkah. The development will have 541 residential, commercial and service units, covering around 125,000 square metres of gross built-up area. Completion and handover are scheduled for 2029.

The project saw strong interest from buyers on its launch day. According to Alramz, reservations for the off-plan units reached about SAR 670 million, or roughly $178.7 million. Buyers from 51 countries made reservations, highlighting the international interest recorded during the launch.

Masar Corner is being developed through a partnership with Ramz Al Hijaz Fund Company. Alramz owns a 50% stake in the investment fund, while Al Rajhi Capital manages the fund. The development is part of Alramz’s plans to grow its real estate portfolio in Saudi Arabia.

Located within the Masar destination, the project is near King Abdullah Mosque Square. Alramz’s 2025 annual report identified Masar Corner as a development comprising two residential towers, with a built-up area of approximately 125,098 square metres.

The project was formally introduced at a launch ceremony in Riyadh on September 30. More than 400 representatives from the real estate and banking sectors, investment funds, asset management companies and investment groups from Saudi Arabia and other countries attended the event. A roundtable was also held to discuss opportunities for global funds investing in Makkah and Madinah.

Alramz expects the project to contribute to its financial results gradually between 2026 and 2029. The timing will depend on construction progress and the accounting rules applicable to recognising the project’s financial impact.

The company also pointed to Saudi Arabia’s new framework for real estate ownership by non-Saudis as a factor behind the international attention surrounding the development. The framework includes provisions covering property ownership in Makkah.

You may also like