Riyadh - Mubasher: Dar Al Majed Real Estate Company (Al Majdiah) has signed two contracts worth a combined value of SAR 453.60 million with Tatweej Contracting Company to implement residential projects.
The deals cover the Adeem Al-Fursan project in Riyadh, comprising 540 villas and townhouses, at SAR 155.48 million, according to two separate bourse filings.
Moreover, the partnership will develop the Khayala 1 project in Jeddah, with 528 units, at SAR 298.12 million.
Implemented in cooperation with the National Housing Company (NHC), the two contracts include construction, infrastructure, finishing, and mechanical and electrical works.
The financial impact of the 36-month projects is expected to begin in the third quarter (Q3) of 2025.
The deals, signed on 14 September 2025, are part of Al Majdiah’s expansion strategy to deliver high-quality residential developments that align with Saudi Vision 2030.
Al Majdiah began trading its shares on the Saudi Exchange (Tadawul) under the symbol 4326 on 10 September.
