Umm Alqura unveils Masar, a new cultural destination in Makkah

UAQ CEO Yasser Abuateek
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Updated 01 July 2020
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Umm Alqura unveils Masar, a new cultural destination in Makkah

Umm Alqura for Development and Construction (UAQ) has unveiled Masar, an upcoming destination in Makkah. The King Abdul Aziz Road is the core component of Masar, which expresses the comprehensive mobility concept by incorporating multiple routes. It includes a 3,650-meter pedestrian route separating the two directions of the main vehicle route with an 80-meter-wide road, thereby representing the natural extension of the Grand Mosque’s plazas. 

The destination also includes other routes, such as the Bus Rapid Transit Network route and the Makkah Metro route.

Masar is one of the most prominent model development projects seeking to serve Makkah residents, visitors, and pilgrims. It also strives to fulfill the objectives of the Kingdom’s Vision 2030 to increase the number of Umrah pilgrims to 30 million by the year 2030 and improve the quality of life for Makkah residents and visitors.

UAQ CEO Yasser Abuateek said: “By unveiling the identity of Masar today, we are referring to one of the largest and most significant urban development projects in the region. Its importance lies in its investment and development vision, making it a modern landmark and cultural destination with multiple features. The project is based on an integrated infrastructure system and it strives to enhance the efficiency of services on a quantitative and qualitative level, in addition to developing public and modern transport facilities and methods to develop the main western entrance of the holy capital.”

The importance of Masar lies in its position as it will receive 80 percent of Makkah’s visitors as well as more than 60 percent of vehicles arriving from Jeddah. Masar’s progression will witness the addition of retail, commercial, cultural, and government centers, and several hotels and residential units, the first batch of which will be inaugurated in 2023. International hotels such as the Kempinski, Hilton Garden Inn and Taj will be some of the first developments of the project.

UAQ is a closed joint-stock company with investors from the private sector and state-owned investment funds, including the Public Investment Fund (PIF), Ministry of Finance, Public Pension Agency, the General Organization for Social Insurance, and the General Authority of Awqaf.


Saudi Awwal Bank becomes first Middle East bank to earn 7-star CinOrg innovation accreditation

Saeed Assiri, chief innovation banking officer at SAB
Updated 05 March 2026
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Saudi Awwal Bank becomes first Middle East bank to earn 7-star CinOrg innovation accreditation

Saudi Awwal Bank has become the first bank in the Middle East to receive a 7‑star Certified Innovative Organization rating from the Global Innovation Institute, the highest recognition awarded by the institute.

The accreditation marks a significant step in SAB’s innovation strategy and follows an innovation maturity assessment conducted by the institute in December 2025. The review, which built on an earlier assessment in December 2023, raised the bank’s maturity level from “Champion” to “Leader.” The new rating reflects SAB’s institutionalized approach to innovation, its enterprise-wide impact and its ability to consistently deliver measurable results.

With the 7‑star rating, SAB becomes the first bank in the region to reach the highest innovation maturity level, strengthening its position as a regional reference point for innovation-led and future-ready banking.

In 2025, the bank opened its flagship Innovation Centre and secured six internationally recognized innovation awards, along with a lab accreditation. The centre has supported SAB’s efforts to accelerate the adoption of advanced technologies, encourage cross-functional collaboration and reinforce its standing as a regional leader in financial innovation.

Saeed Assiri, chief innovation banking officer at SAB, said the recognition reflects years of focused work to build a sustainable innovation ecosystem.

“By investing in SAB’s culture, governance and talent, innovation enables the bank to remain future-ready,” he said. “This milestone reinforces our role in accelerating financial innovation in Saudi Arabia and delivering long-term value for our customers.”

The certification adds to SAB’s broader efforts to strengthen its innovation capabilities as the Kingdom’s banking sector continues to evolve.