Al-Majdiah signs $20.48m deal with Emarna Contracting for Riyadh residential project

09/03/2026 09:48 AST

Dar Al Majed Real Estate Company (Al-Majdiah) has signed a contract worth SAR77 million ($20.48 million) with Emarna Contracting Company to implement a new residential development in Riyadh's Al-Nada District.

The project, known as Al-Majdiah Project (174), will be executed on a turnkey basis and involves the construction of eight residential buildings comprising 226 housing units, according to a company announcement.

Under the agreement, Emarna Contracting will undertake all works related to the development, including structural and architectural construction, finishing works, electrical and mechanical services, safety and protection systems, air-conditioning and ventilation installations, as well as site works, in line with approved designs and project specifications.

The contract was signed on March 5, 2026, with a total value of SAR77 million excluding value-added tax. The project is expected to be completed within 12 months.

Dar Al Majed Real Estate said the development is expected to have a positive impact on the company's financial results upon completion.

The company also disclosed that Hossam bin Abdulrahman Al Majed, a major shareholder holding more than 5% of the company's shares directly and indirectly, has an indirect interest in the transaction as a related party.

However, the firm said the contract was awarded in accordance with its approved procedures and under the same terms and conditions applied to all contractors, without any preferential treatment.


Trade Arabia

News

Dar Al Majed Real Estate seals credit facilities deal with BSF

16/03/2026

Saudi-based Dar Al Majed Real Estate Company has announced that it has signed an addendum to the credit facilities agreement previously concluded with Banque Saudi Fransi (BSF).

The addendu

Trade Arabia

Dar Al Majd to build three premium residential projects in Riyadh

15/12/2025

Dar Al Majd Real Estate Company (Al Majdiah) has announced that it has signed an agreement with the Jadwa Al Manzel Real Estate Fund for the development of three residential projects worth SAR265 mil

Trade Arabia

Saudi Arabia's Dar Al Majed's IPO sees swift demand, valued at SR4.2 billion

30/07/2025

Saudi Arabia's Dar Al Majed Real Estate Co. saw demand for all shares on offer in its 1.26 billion riyals ($336 million) initial public offering within minutes of books opening on the deal in Riyadh,

Gulfnews

Most Viewed Companies

Ticker Price Volume

Valuation

ALMAJDIAH Sector Market
P/E
Price/BookValue

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
MASAR 16.80 -0.25 (-1.47%)
DARALARKAN 18.03 0.01 (0.05%)
JABALOMAR 15.89 -0.28 (-1.74%)
MCDC 86.00 1.00 (1.17%)
TAIBA 38.60 1.16 (3.09%)

Recent News

Doha Bank shareholders approve distribution of 15% cash dividends

05/04/2026

Shareholders of Doha Bank have approved the board of directors' recommendation to distribute cash dividends of QR0.15 per share, equivalent to 15% of the nominal value, Doha Bank chairman Sheikh Faha

Gulf Times

Alramz in deal to build 900-unit integrated community in Jeddah

05/04/2026

Saudi-based Al Ramz Real Estate Company has announced the signing of an agreement for the establishment of a shariah-compliant real estate investment fund, to be managed by Oud Capital (the Fund Mana

Trade Arabia

Jazeera Airways launches three new flights to Indian sub-continent

05/04/2026

Kuwait's leading low-cost carrier Jazeera Airways has announced the launch of flights to three new destinations in the Indian sub-continent - Peshawar and Sialkot in Pakistan, and the South Indian ci

Trade Arabia

NBK - Egypt secures $50 million facility to finance MSMEs in Egypt

03/04/2026

National Bank of Kuwait - Egypt has secured a $50 million financing package from the European Bank for Reconstruction and Development (EBRD), supported by the European Union (EU), to expand access to

Kuwait Times

ADIB strengthens tie-up with Jubail Investment Company to deliver major project

03/04/2026

Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has reaffirmed its role as a key enabler of large-scale real estate development through its strategic partnership with Jubail I

Trade Arabia

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap