MAKKAH, SAUDI ARABIA - Media OutReach Newswire - 4 June 2026 - Umm Al Qura for Development & Construction Company, the owner, developer, and operator of Masar Destination, has announced the receipt of two letters of award for the development of the Hindawiya West and Hindawiya South sites - adjacent to Masar Destination, the two projects have been awarded to a consortium comprising Umm Al Qura for Development and Construction Company, Makkah Construction and Development Company, and Rajhi United Real Estate Company, with a combined total area of 1.2 million square meters under the name "Masar Gardens." This comes in line with the Company's announcement of the launch of its new five-year strategy for 2026–2030. This step marks a strategic transformation in the company's business model, reflecting its transition from developing a single flagship destination to becoming a multi-destination urban development platform in the western region of Saudi Arabia.
The strategy also strengthens the company's ability to manage a diversified portfolio of urban and investment destinations with long-term economic and urban impact across Makkah, Jeddah, and Madinah.
The unveiling of the new strategy comes in the wake of the company successfully achieving the objectives of its 2021-26 strategy, which served as a roadmap for its institutional transformation over the past five years. This journey led to the completion of Masar Destination's main infrastructure and its transition into the operational phase, alongside the development of a mature investment and financial platform and the enhancement of its institutional and operational capabilities.
These achievements were further reinforced by its listing on the Saudi Exchange (Tadawul), strengthening investor confidence and positioning the company for a new phase of large-scale expansion built on its core strengths and focused on creating sustainable, long-term value for communities, people, and investors.
During the period from 2021 to 2026, the company successfully established an integrated and scalable business model driven by its accumulated expertise and strong financial performance. This included a compound annual growth rate exceeding 60% in revenues and more than 45% in net profit, alongside operating cash flows surpassing SAR 2 billion in the most recent fiscal year. The company also attracted approximately SAR 40 billion in development investments for the destination, forged more than 30 strategic partnerships, and developed a comprehensive governance framework. In parallel, it built advanced operational and development capabilities that support sustainable growth and enhance the company's readiness for its next phase.
The new strategy is anchored in a planned and selective expansion approach that does not seek to increase the number of projects as much as it focuses on delivering sustainable value for place, community, and investors. This will be achieved through the development of high-quality urban destinations in Makkah, Madinah, and Jeddah, within a carefully targeted geographic focus that enhances operational integration and maximizes the efficient deployment of resources and expertise.
In this phase, the company is adopting a clearly defined approach to capital allocation, balancing growth with the maximization of returns while maintaining the flexibility of its financial position. It aims to manage an additional development portfolio exceeding SAR 50 billion, alongside deploying incremental capital investments ranging between SAR 3-5 billion over the course of the strategy, further reinforcing its ability to deliver sustainable long-term growth.
In parallel, the company will adopt a flexible operating model that enables it to lead projects as a master developer or to participate as a partner and development manager, in line with defined investment criteria that ensure carefully considered decision-making aligned with its strategic direction.
The company also confirms that Masar Destination will remain a central cornerstone within its future portfolio, with ongoing development of its extensions and expansions in accordance with approved plans. As its flagship project, Masar continues to serve as the primary foundation for the company's activities and the model through which it will launch new urban destinations that contribute to enhanced quality of life and support economic growth across its target cities.
Commenting on this, Yasser Abdulaziz Abuateek, CEO of Umm Al Qura for Development & Construction, stated: "The launch of our new strategy represents a pivotal turning point in the company's journey, as we move from a phase of capability building to one of considered expansion. The achievements of the past years have provided us with the confidence, expertise, and readiness to advance toward managing a fully integrated portfolio of urban destinations. Through this, we aim to create sustainable value for place, community, and investors within a robust governance framework that supports continued growth and contributes to generating long-term impact across the western region."
This strategy reaffirms Umm Al Qura for Development and Construction's commitment to supporting the objectives of Saudi Vision 2030 by developing high-quality urban destinations that enhance quality of life, stimulate investment, and strengthen economic integration within a growth model driven by value creation and sustainability.
For more information, visit: www.ummalqura.com.sa/en/new-strategy-2030
Hashtag: #Development #SaudiArabia
https://www.ummalqura.com.sa/en
The issuer is solely responsible for the content of this announcement.
Umm Al Qura for development & Construction
Umm Al Qura for development & Construction is the owner and developer of MASAR destination that works with a developmental vision to elevate the urban and investment landscape of Makkah through pioneering the development of Masar destination and exploring new avenues to help improve the quality of life for Makkah residents, pilgrims and visitors.
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Umm Al Qura for Development & Construction Company, the owner, developer, and operator of Masar Destination, has announced the receipt of two letters of award for the development of the Hindawiya West and Hindawiya South sites - adjacent to Masar Destination, the two projects have been awarded to a consortium comprising Umm Al Qura for Development and Construction Company, Makkah Construction and Development Company, and Rajhi United Real Estate Company, with a combined total area of 1.2 million square meters under the name "Masar Gardens." This comes in line with the Company's announcement of the launch of its new five-year strategy for 2026–2030.
- For the first time in Vietnam, the number of Starred restaurants reaches double digits - a milestone that reflects the country's rapid ascent as a world-class gastronomic destination.
- In its fourth edition, the 2026 MICHELIN Guide selection in Vietnam reveals a total of 193 establishments, including 11 One MICHELIN Star (2 new), 72 Bib Gourmand (11 new), and 110 MICHELIN Selected (9 new).
- ONVIT (Hanoi) becomes the first Korean contemporary restaurant in Vietnam awarded One MICHELIN Star.
- The 2026 edition is unveiled at Ascott Tay Ho, Hanoi, as the MICHELIN Guide marks 100 years of the Star, first awarded in 1926.
HANOI, VIETNAM - Media OutReach Newswire - 5 June 2026 - Michelin officially unveiled the 2026 restaurant selection of the MICHELIN Guide Hanoi | Ho Chi Minh City | Da Nang at The Ascott Tay Ho Hanoi on June 4, 2026. Now in its fourth edition, this year's selection also celebrates at a moment of exceptional significance.
11 Stars Shine In The Michelin Guide Restaurant Ceremony 2026 Hanoi | Ho Chi Minh City | Da Nang
The MICHELIN Guide awarded its first restaurant Stars in 1926 - one that would go on to shape the way the world eats, travels and celebrates excellence at the table. Over the decades, that legacy has travelled far and discovered new gastronomic experiences, expanding the boundaries of what excellent dining can mean. The ceremony in Vietnam today joins the celebration of this milestone, marking the 100th year since the first Star was awarded.
The newly released restaurant selection showcases 193 establishments, featuring 11 One MICHELIN Star (2 new), 72 Bib Gourmand (11 new), 110 MICHELIN Selected (9 New), alongside 3 restaurants in the MICHELIN Green Star community (1 new). New additions include 7 from Hanoi (1 One MICHELIN Star, 3 Bib Gourmand, 3 MICHELIN Selected), 11 from Ho Chi Minh City (1 One MICHELIN Star, 5 Bib Gourmand, 5 MICHELIN Selected) and 4 from Da Nang (3 Bib Gourmand and 1 MICHELIN Selected). One Ho Chi Minh City restaurant newly joins the MICHELIN Green Star community for its inspiring commitment to zero-waste philosophy and plant-based gastronomy.
Most significantly, this marks the first time in the Guide's four-year history in Vietnam that the number of Starred restaurants has reached double digits: a clear sign that Vietnam's culinary world is entering a new level of excellence. Behind that achievement is a generation of culinary talent whose ambition and identity have never been more sharply defined.
"In four years, we have watched Vietnam grow from an exciting discovery into a clear and confident culinary destination. What excites us most this year is the talent and passion behind each restaurant. A new generation of Vietnamese chefs is leading the way, with young cooks who have trained abroad and come home to cook food that is unmistakably their own: rooted in local ingredients, local memories and local pride. That is exactly what the MICHELIN Guide has always sought to honor," said Gwendal Poullennec, International Director of the MICHELIN Guide. "As we mark a century of the Star, Vietnam reminds us that local gastronomic stories are still being written, and that some of the most exciting chapters are unfolding right here."
One MICHELIN Star: A New Chapter for Vietnamese Fine Dining
11 restaurants are awarded One MICHELIN Star this year, marking the first time the total has surpassed single-digit since the MICHELIN Guide arrived in Vietnam. Two newcomers bring a perspective that adds new depth to Vietnam's Starred dining scene:
- ONVIT (Hanoi): The first Korean restaurant in Vietnam awarded One MICHELIN Star, showcasing an upscale Korean–Vietnamese tasting menu in a tranquil setting where fresh local ingredients meet the traditions of Chef Joon Huk Chi's Korean heritage.
- Upstairs (Ho Chi Minh City): An intimate four-table spot above a wine bar, offering Chef Hiệp Trương's modern Vietnamese tasting menu rooted in Central traditions.
These two newly awarded restaurants join retaining One MICHEIN Star recipients: Gia, Hibana by Koki, Tầm Vị (Hanoi); Long Trieu, Ănăn Saigon, Akuna, CieL, CoCo Dining (Ho Chi Minh City); and La Maison 1888 (Da Nang).
Tales by Chapter Joins the MICHELIN Green Star Community
The MICHELIN Green Star editorially highlights restaurants that, among the MICHELIN Guide selection, have inspired and impressed Inspectors with their committed vision for the future of gastronomy.
This year, Tales by Chapter (Ho Chi Minh City) is the newest restaurant to join the MICHELIN Green Star community recognized for its rigorous zero-waste philosophy and its seasonal, plant-based menu sourced from a partner eco-farm in Da Lat[PS1] and the restaurant's own rooftop garden. The kitchen transforms trimmings through creative fermentation into mushroom garum and corn koji, while organic by-products are composted back into the soil. Guests are invited into this closed-loop system through interactive installations and a seed-matching game, making the connection between dining and environment impossible to ignore.
Bib Gourmand: 72 Establishments Celebrating the Rich Diversity of Vietnamese Cuisine
The 2026 Bib Gourmand list grows to 72 establishments, with 11 new entries showcasing establishments that our Inspectors consider good quality cooking for good value. The New Bib Gourmand entries include:
In Hanoi
- Bánh Cuốn Gia Truyền Thanh Vân (Hang Ga Street): Open since 1973 in the heart of the Old Quarter, this family-run spot specialises in bánh cuốn, keeping alive a craft passed down through generations. Everything is made from scratch using traditional methods, resulting in rice rolls that are thin, delicate and soft. The family-recipe dipping sauce strikes a pleasing balance of salty, sweet and sour flavors. Fillings include pork, shrimp and chicken, with extra toppings available.
- Mammom: This kitchen pays homage to the traditional home cooking of Vietnamese mothers. The chef brings a decade of experience to bear in a repertoire of nearly 100 dishes covering southern, central and northern specialities, each gently cooked with authentic seasonings that preserves their rustic character. A standout is the clam broth, brightened with tomato and pineapple, and the clams are deliciously tender, with sweet and sour flavors expertly balanced.
- Phở Hà Hàng Hòm: A no-frills phở gà spot on Hang Hom Street, this eatery has earned loyal fans with its rich, satisfying bowls. Native fowl is gently simmered to retain a chewy tenderness, and paired with rice noodles, herbs and steaming hot broth. Xôi gà – sticky rice with chicken and extras like egg or gizzards – is also popular and often sells out early.
In Ho Chi Minh City
- Bánh Canh Cua Bà Ba: Tucked away down an alley, this compact shop with indoor and outdoor seating is a local favorite. The menu focuses on a single dish: bánh canh cua, a vivid orange crab rice noodle soup – in a smaller bowl for one or claypot for sharing. With a zesty green chilli-lime sauce on the side, the silky broth is generously filled with fish cakes, crab leg meat and egg ribbons.
- Bánh Cuốn Tây Hồ 127: This once-humble hawker is now an iconic two-storey shop known for its delicate rice paper rolls. Made to order beside the open kitchen, they boast balanced, traditional flavors, such as pork and jicama, and vegetarian options.
- Bún Riêu Yến: Set on a bustling street corner, the star of this modest eatery is bún riêu: rice noodles (thin, thick or flat) in a tomato and crab broth. The mildly spicy, naturally sweet broth has good depth and pairs well with generous toppings of fresh whelk meat and minced pork that soaks up the broth.
- Chị Mơ: Phở is the highlight of this restaurant: with a choice of three full-bodied broths, it is made with fresh bones and simmered for 24 hours. Grilled bagrid catfish with crispy rice crackers and umami shrimp paste brings balance, complexity and smoky, textured depth.
- La Lola: With its bold burnt-orange façade and playful interior of tiled floors and velvet chairs, this vibrant spot delivers Mediterranean charm with a youthful twist. Chef Julio Gomez puts a local twist on classic flavors, in dishes such as gambas al ajillo – plump Vietnamese prawns in aromatic chilli-garlic oil – and a tender and well-seared Ibérico pork steak.
In Da Nang
- Bà Vui: This enduring local favorite keeps a tight focus, serving just two items: bún gà and xôi gà. The deeply flavored clear chicken broth is lifted by light, refreshing acidity and a subtle touch of black pepper. Served warm, the sticky rice is topped with a mix of tender pulled chicken, pickled onions and a generous handful of fried shallots – and portion sizes are hearty and satisfying.
- Bánh Bèo - Bánh Đập: This humble shop focuses on just two affordable dishes: bánh bèo and bánh đập. The steamed rice cakes arrive in sets of five, the tender bases topped with a rich pork and wood ear sauce, finished with shallots and peanuts. Made to order, the subtly tangy bánh đập pairs crisp rice crackers with a soft rice wrapper; the accompanying sauce strikes a balance of sweet, salty and fermented notes.
- Lê Gia Khang (Ngũ Hành Sơn): This shop specialising in Huế-style bún bò makes its robust, savory broth fresh every day. Pick from four toppings including the signature xí quách: the large L-shaped beef bone lends deep flavor and a wealth of textures – meat, cartilage and fatty edges.
MICHELIN Selected: From Street Food to Fine Dining, 110 Establishments Worth Knowing
In addition to Starred and Bib Gourmand restaurants, the MICHELIN Guide Inspectors recommend eateries whose high-quality cuisine simply won them over. This year's selection of 110 establishments with 9 new additions spans the full spectrum of Vietnam's dining landscape. Whether a decades-old local favorite or a newly opened international table, each has earned its place through one shared quality: food worth seeking out.
In Hanoi
- MÀU: Tucked beneath the trees of a historic Hanoi street corner, this gastro wine bar offers à la carte dishes and a chef's menu, where the food sees modern style balanced with Asian flavors, including subtle Vietnamese notes.
- Phở Gà Huyền Hương: The concise menu focuses on deeply satisfying bowls of phở. The chicken broth is rich and hearty, offering depth. A beef option provides an equally robust alternative.
- ZAO: This lively, laid-back restaurant combines global flair and Vietnamese roots, as the Hanoi-born chef is a returnee from a career abroad. Dishes such as tomato bingsu – heirloom cherry tomatoes, buffalo cheese and lime-basil granita – set the tone, alongside razor clam pâté or salmon with baby sprouts for a zingy, refreshing start.
In Ho Chi Minh City
- Apero: Opened in 2022, the open kitchen turns out unpretentious Italian fare, with pasta as a highlight. Try the rich and creamy carbonara with crispy bacon and parmesan, and save room for the house-made tiramisu.
- NÔM: Nôm's tasting menu unfolds as a thoughtful journey through Vietnam's culinary heritage, moving from the north to central regions, ending with a southern-inspired dessert. Familiar dishes are reworked with finesse – think elegant, complex Huế-style beef noodle soup, or rich fish soup lifted by herb oil and caviar. Each floor reflects a different part of Vietnam, just like the menu.
- Quán ăn Ngự Bình: Opened decades ago, this modest spot serving Huế comfort food in a casual, welcoming setting has a loyal following. The bún bò Huế features tender beef in a light and soothing soup; bánh bèo and nem nướng are ordered by nearly every table.
- Sono: Opened in 2022, Chef Kiên Phan blends traditional and modern, crafting dishes that reflect a deep respect for Vietnamese culture. The à la carte menu revolves around the grill, and each tasting menu has its own theme.
- Tales by Chapter: Vietnam's first zero-waste, plant-based fine dining concept, this serene villa setting serves seasonal tasting menus based on local produce, rooftop-grown herbs and fermentation. Diners can see dishes being crafted at the chef's counter, such as corn pie tee – crisp cups of soy-corn purée, charred kernels, kimchi and fermented chili – and chewy porcini-filled rice dumpling cake in a reimagined bánh bột lọc.
In Da Nang:
- Dì Hoa (Hòa Cường): Run by a husband-and-wife team for over 30 years, Dì Hoa serves Da Nang-style rice paper snacks – khô and ướt – with various toppings. Their khô trứng, often described as "Vietnamese pizza", is a standout: thin yellow rice paper with quail eggs, pâté, pork floss and shallots is grilled until crisp.
MICHELIN Guide Special Awards
The MICHELIN Guide Special Awards recognize the individuals whose passion and professionalism elevate the entire dining experience. This year's recipients reflect a broader shift the Inspectors have witnessed across Vietnam: a new generation of hospitality professionals is rising - in the kitchen, on the floor, and behind the wine list - combining international standards with a deeply personal connection to Vietnamese culture.
- The MICHELIN Guide Opening of the Year Award
- The MICHELIN Guide Young Chef Award
- The MICHELIN Guide Sommelier Award
- The MICHELIN Guide Service Award
To receive the latest news and updates all year round, visit the MICHELIN Guide website, or download the free app for iOS and Android.
Hashtag: #Michelin
The issuer is solely responsible for the content of this announcement.
About Michelin
Michelin is building a world-leading manufacturer of life-changing composites and experiences. Pioneering engineered materials for more than 130 years, Michelin is uniquely positioned to make decisive contributions to human progress and to a more sustainable world.
Drawing on its deep know-how in polymer composites, Michelin is constantly innovating to manufacture high-quality tires and components for critical applications in demanding fields as varied as mobility, construction, aeronautics, low-carbon energies, and healthcare.
The care placed in its products and deep customer knowledge inspire Michelin to offer the finest experiences. This spans from providing data- and AI-based connected solutions for professional fleets to recommending outstanding restaurants and hotels curated by the MICHELIN Guide.
Headquartered in Clermont-Ferrand, France, Michelin is present in 175 countries and employs 132,200 people.
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