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Al-Majdiyyah finalizes deal for Eastern Hindawiya Project in Mecca
Dar Al-Majed Real Estate Company (Al-Majediyah) has signed a framework agreement to develop the Eastern Hindawiya Area project in Mecca. The project is to be carried out through a coalition involving Al-Jada Al-Aula for Real Estate Development and Rukaz Real Estate, with Jadu Investment Company participating as the manager of the project's private investment fund. The aim of the agreement is to regulate the development process of the project and establish a closed real estate investment fund to manage and develop the land, defining the rights and obligations of all parties. Jadu will manage the fund, while the coalition will develop the project through infrastructure work and land provision. It is expected that this agreement will have a positive impact on the company's financial results upon the completion of licensing and development processes.
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