Makkah — Under the patronage of His Excellency the Minister of Tourism and Chairman of the Tourism Development Fund (TDF), Mr. Ahmed bin Aqeel Al‑Khatib, a joint financing agreement was signed to enable the Masar Mall project — set to become the largest shopping center in Makkah.
The agreement, signed between the Tourism Development Fund, Arab National Bank (ANB), and Hamat Company, was attended by TDF CEO Qusay bin Abdullah Al‑Fakhri, Hamat Chairman Saleh bin Mohammed Al‑Habib, Hamat CEO Abdullah Al‑Tamimi, and senior ANB executives. The SAR 936 million project is a central component of the broader Masar Destination development and aims to elevate the city’s tourism and retail offering for visitors and pilgrims.
Masar Mall will occupy more than 63,000 square meters at Makkah’s western gateway and will feature international retail brands, diverse dining options, family and senior‑friendly spaces, and cultural and recreational facilities. It will connect directly to the Haramain High‑Speed Railway station and include a pedestrian walkway to the Grand Mosque, improving accessibility for pilgrims. The mall is projected to welcome around 20 million visitors annually.
The financing pact builds on an existing strategic partnership between TDF and ANB to stimulate investment in high‑quality tourism projects by offering innovative financing solutions that enhance project attractiveness and sustainability. TDF CEO Qusay Al‑Fakhri said the Fund remains committed to enabling tourism investments with tangible economic and developmental impact, noting the agreement will support job creation, boost local economic activity, and advance sustainable development in the Makkah region.
Masar Destination is an integrated urban development that will include hotels, residential apartments, healthcare facilities including a hospital, and cultural spaces — collectively designed to improve quality of life and the city’s capacity to serve visitors and pilgrims.
The Masar Mall initiative exemplifies TDF’s role in mobilizing finance and facilitating projects that enrich the tourism experience, raise service quality for visitors to the Kingdom, and support broader economic and social growth aligned with national development goals.
