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Saudi Arabia’s Dar Al Majed Real Estate Company has signed a 500 million riyal ($133.3 million) Shariah‑compliant facility with Arab National Bank (ANB) to support its expansion strategy and fund future projects.
The financing carries a tenor of up to five years, including a two‑year grace period. The facilities are backed by promissory notes.
The company, known as Al Majdiah also signed a Shariah-compliant credit facility deal with Alinma Bank to back its real estate development projects.
In December 2025, Al Majdiah signed agreements with Jadwa Al-Manzel Real Estate Fund to develop three projects valued at SAR 266 million in Riyadh
The developer listed on the Tadawul exchange in September 2025 following a SAR1.26 billion IPO.
(Writing by Brinda Darasha; editing by Seban Scaria)
