The Saudi PIF backed developer Umm Al Qura for Development and Construction is due to launch an IPO to support its much anticipated $26.6 billion MASAR Makkah project.
The move comes immediately after the Saudi government allowed foreigners to invest in publicly listed Real Estated companies in the Holy Cities of Makkah and Madinah.
This IPO is intended to help fund its MASAR Makkah project which aims to transform the skyline of Makkah, extending from the Haramain Railway station to The Grand Mosque, Al Masjid Al Haram.
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