Dar Al Majed signs $49m deal for 296-unit Madinah project

RIYADH: Tadawul-listed Dar Al Majed Real Estate Co. has signed a SR185 million ($49.3 million) development agreement with Jadwa Al Maqar Real Estate Fund to develop 296 residential units in Madinah, expanding its pipeline in Saudi Arabia’s two holy cities. The agreement covers development works in the first area of the Mashraf Al Majdiah project, as well as its central public realm, in Madinah’s Al-Hadra district, according to a Saudi Exchange filing. The project will comprise 66 villas and 230