Established in 2012, Umm Al Qura is the developer of the $26.7 billion Masar Destination project in Makkah, spanning 1.2 million square metres and planned to include more than 50,000 units. The company was listed on Tadawul in 2025 after selling a stake of 9.09% for $523 million. In January 2026, the company awarded $1.1 billion in new construction contracts for hospitality towers and shopping centres within the Masar Destination. GOSI and the Public Investment Fund are the largest shareholders, holding 24%, and 16.3%, respectively, as of February 2026.