Dar Al Majed Real Estate Co. (Al Majdiah) has signed a Shariah-compliant credit facilities deal with Alinma Bank to back its real estate development projects.

The 500 million Saudi riyals ($133.35 million) facilities have a tenure of up to 10 years, including a three-year grace period, the developer said in a statement to the Saudi stock exchange.

The new facility, secured by a promissory note, will also support the company's financial position.

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.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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