Riyadh - Sharikat Mubasher: Masar Destination, the exquisite urban destination owned by Umm Al-Qura Construction Company, concluded an acquisition deal with Alpha Capital to launch Alpha Capital Fund worth SAR 600 million, Masar announced in a recent statement.

The real estate fund will focus on developing a residential tower in the destination, encompassing 240 housing units over a total space of 2,437 square meters (sqm).

The tower will be developed by Ittihad & Takaful Investment Group.

Alpha Capital is a joint stock investment company licensed by the Saudi Capital Market Authority (CMA), offering asset management, alternative investments, and investment banking services in compliance with the Shariah.

Masar Destination is strategically located in Makkah Province over an area of 1.2 million sqm, featuring a punch of offerings that vary between hospitality, mobility, retail, culture, and entertainment.