The company was founded in June of 2000, the Group of Hajj and Umrah services – Mashaer – consider as professional working in the fields of study and preparing the investment analysis and management in accordance with the teachings of the tolerant Islamic Sharia law, so as to achieve a quantum leap at the level of performance in the domestic and international markets, through the performance of Operational ensure a strong and balanced stability of its assets and profitability through an integrated system working in the field of Hajj and Umrah services, and investments in the sectors of distinguished real estate and services through innovative projects of the dimensions of a strategy for long, which is due to shareholders the value of high investment...
Al-Watan newspaper: 10/4/2009
Jassim Al Awadhi, Deputy Chief Executive Officer, revealed that several exit strategies that will take place in 2009 are being studied, including Hajar Tower floors, in addition to real estate development projects. During 15 days, one of the hotels owned by the Company will start to work in Mecca by an annual revenue expected to reach KD two million annually. Some shareholders reserve to discharging the former board of directors from liability. Shareholders of Waqoud company reserves Article 8 of general assembly agenda pertaining to discharging the former board of directors from liability with regard to their legal acts to management Company for the years ended December 31, 2008. They said «we know that the majority is not for us but a fortiori to hold the former board members harmless regarding the erroneous practices that took place in their reign», pointing out that one of the managers sold his shares to the Company at 1300 Fils and sold shares of options to the employers after 3 days of its allocation. At the same time, the shareholders incurred big losses after the stock fell to the price of 130 fils.
Haj and Umrah Services Co. (MASHAER) announced that it has successfully completed the stage of agreeing on a deal of two towers of Meridian Hotel in Mecca, a total value of up to SAR 500 million. The direct ownership of one of the towers to be done by owning another tower indirectly by MASHAER in which it owns a stake of 35%, by partially owned Sukouk to be owned by the company in the same towers.