Al-Majdiyah Plans 296 Medina Homes for 185M Riyals

Al Majeed Real Estate Company, "Al Majeediyah," announced the signing of an agreement to develop 296 residential units in Hadrar District, Madinah. The project, called "Mushrif Al Majeediyah," includes villas and apartments. The agreement covers the development of the central area and the overall site, with a cost of up to 185 million SAR, and an estimated completion time of 24 months. The scope of the project includes design, planning, supervision, marketing, and sale of the units, taking into account the exclusion of the area already offered earlier. Revenues will be recognized based on the progress achieved during the development period. The agreement involves a related party, Mr. Abdul Salam Al Majeed, Chairman of the Board, who holds an indirect interest.

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