Dar Al Majdiah Real Estate Signs SAR185 Million Residential Project Development Deal

02:45 AM EDT, 09/13/2026 (MT Newswires) -- Dar Al Majdiah Real Estate (SASE:4326) entered into a real estate development deal for the Mishraf Al Majdiah project in Madinah, Saudi Arabia. The agreement will see the Saudi Arabian real estate company serve as the developer for the project, which will entail the construction of 296 residential units and the central public area. The 24-month project is expected to have a development cost of up to 185 million Saudi riyals, with the company being entitled to a development fee based on direct costs, sales and marketing fees, as well as a performance incentive.