Signal · Supplier & Corporate Risk

‎Al Majdiah signs SAR 395.8M deal for 2 residential towers at Masar Destination

Argaam - Company Disclosures Trade press Published 5th August 2026 Saudi Arabia, UAE

What the source reported

Source-reported

‎<p><img src="https://argaamplus.s3.amazonaws.com/804a593e-971d-455f-bff7-1a07b25c6ba2.png" ></p> <p class="ckeCaption" >Al Majdiah signed agreement with Alistithmar Real Estate Fund 9</p> <hr> <div data-olk-copy-source="MessageBody" >Dar Al Majed Real Estate Co. (<a href="https://www.argaam.com/en/tadawul/tasi/almajdiah" target="_blank">Al Majdiah</a>) signed a real estate development agreement with Alistithmar Real Estate Fund 9.</div> <div data-olk-copy-source="MessageBody" ></div> <div> <p >According to a statement on <strong>Tadawul</strong>, Al Majdiah will act as the lead developer for two residential towers in Zone 1 of <a href="https://www.argaam.com/en/disclosures/projects/details/projectid/755" target="_blank">the Masar Destination</a> in Makkah, on a total land area of approximately 6,614 square meters.</p> <p ></p> <p >The company stated that the agreement has an estimated value of SAR 395.8 million, excluding VAT, with a 30-month term starting from the issuance of the building permit.</p> <p ></p> <p >Under the agreement, Al Majdiah will be responsible for managing and developing the project, including planning, design, development, supervision, execution follow-up, coordination with relevant authorities, management of contracts with contractors and consultants, as well as the marketing and sale of the project's units, in accordance with the agreed scope of work.</p> <p ></p> <p >The agreement’s impact will appear in upcoming financial statements throughout the project period, with revenue recognized based on completion progress starting from the execution phase.</p> <p ></p> <p >Al Majdiah noted a related-party transaction, as board member and Acting CEO Abdulsalam Almajed represents the company on the board of Alistithmar Real Estate Fund 9, creating an indirect interest under relevant regulations. The company also owns a 16.6% stake in the fund’s units.</p> </div>

Publication: Argaam - Company Disclosures · Stock Exchange/Regulatory Announcements
Published: 5th August 2026
Original report: argaam.com

ProcIntel stores what the source published in its feed — a headline, a summary and a link. It does not store or reproduce the full article.

What ProcIntel recorded

ProcIntel-derived

Category: Supplier & Corporate Risk
Geography: Saudi Arabia, UAE
Organisations: None identified
Collected: 5th August 2026 · 14:01

Initial assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.

A provisional, automatically computed reading of this individual Signal, before Event extraction or human review. Not a final rating.

Significance 1 · Low

Confidence 2 · Low

Initial Significance Low (14.0/100). Strongest contributor: Procurement Impact (6.0/30 points). Limiting factor: Geographic Breadth (0.0/10 points). Initial Confidence Low (23.5/100, data sufficiency: Partial). Strongest contributor: Source Authority (12.0/40 points). Limiting factor: Corroboration (2.5/25 points).

Strongest contributor: Procurement Impact
Limiting factor: Geographic Breadth

What the source reported

What ProcIntel recorded

Initial assessment ⓘMore about Initial Signal AssessmentProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.

Initial assessment ProcIntel's automatic, provisional read of this individual Signal -- Initial Significance and Initial Confidence, computed deterministically before any Event extraction or human review.