Element List	Explanation
Introduction	Umm Al Qura for Development and Construction Company (The Owner, Developer and Operator of "Masar" Destination) announces that Al-Inma First Development Company Limited and Al-Inma Second Development Company Limited (The two SPVs for Al-Inma Makkah Development Fund I and Al-Inma Makkah Development Fund II respectively, all the units of both funds are owned by Umm Al Qura for Development and Construction Company) have awarded to new main contractors the construction contracts related to the completion of the two superstructure development projects "Packages A and B" which together include seven hospitality towers and two shopping centers being developed on 8 plots of land within "Masar" Destination noting that the previous main contractor for these projects was terminated due to material breaches, as previously announced by the Company on 19/11/2025
Date of the Award	2026-01-15 Corresponding to 1447-07-26
Counterparty	Mounes Mohammed Elshayeb and Partners for Civil Construction Company (MOBCO) and BEC Arabia Contracting Company
Contract Value	The contract value for Package A is SAR 3.2 billion excluding VAT, and the contract value for Package B is SAR 899 million excluding VAT
Expected Date for Signing the Contract	2026-01-29 Corresponding to 1447-08-10
Contract Details	Package A consists of four hospitality towers and two commercial centers being developed on six plots of land in zone 1 of Masar Destination. Package A has now been awarded to Mobco to complete the works with a contract duration of 30 months. Package B consists of three hospitality towers being developed on two plots of land in zone 3 of Masar Destination. Package B has now been awarded to BEC Arabia Contracting Company to complete the works with a contract duration of 30 months
Related Parties	None