Riyadh – Mubasher: MSGA Al-Oula Real Estate Development Company, a subsidiary of MSGA Investment Company, has signed a non-binding memorandum of understanding (MoU) with Riyadh Holding Company.

The agreement establishes a framework for both parties to evaluate and study investment cooperation opportunities for the development of a land parcel owned by Riyadh Holding in the Al-Mahdia district of Riyadh.

The memorandum was signed on 27 August and is effective for a duration of one year from the date of signing. According to the regulatory filing, the primary objective of the partnership is to explore the feasibility of joint development and investment in the specified residential or commercial site.

MSGA Investment stated that there is no immediate financial impact resulting from the signing of this MoU. The company further confirmed that there are no related parties involved in the transaction.

Any material developments regarding the progress of the studies or the finalization of a definitive agreement will be disclosed in accordance with relevant regulations.

In the January-June 2026 period, the listed company registered 52.74% lower net profits at SAR 10.60 million, compared to SAR 22.43 million in the same period last year.