Al-Majdiyah Builds 296 Homes in Medina
Dar Al-Majid Real Estate Company announced the signing of an agreement with Jadwa Mqar Fund to develop 296 residential units, including villas and apartments, as part of the "Mashraf Al-Majdiyah" project in Al-Hadra neighborhood in Madinah. The total cost is expected to reach 185 million Saudi riyals, with a timeline of 24 months. The project includes developing the central area and improving the overall site, with the company responsible for design, coordination, supervision of contractors, marketing, and sales. This aligns with its strategy to strengthen its presence in the real estate development market, despite a 62% decline in profits during the second quarter of 2026 due to decreased land sales. The company affirms its commitment to continue executing the project until its completion and the issuance of the final certificate of completion.
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