Dar Al Majd Real Estate Company (Al Majdiah) announced on March 5, 2026, that it had signed a contract with Emarna Contracting Company to implement the Al Majdiah (174) project under a turnkey delivery system in the Al Nada district in the city of Riyadh. The project includes the construction of 8 residential buildings comprising 226 housing units.
The company explained in a statement published on the Saudi Tadawul platform that the contract value amounts to SAR 77 million, excluding value-added tax (VAT), and that the specified implementation period for the contract is 12 months.
The contract stipulates the execution of all turnkey works, including structural and architectural works, finishing works, in addition to electrical and mechanical services, safety and protection systems, air conditioning and ventilation systems, and site development works, in accordance with the documents attached to the contract and the approved regulations.
The company indicated that the contract is expected to contribute positively to its financial results after the completion of the project.
