Riyadh - Mubasher: Dar Al Majed Real Estate Company (Al Majdiah) inked an addendum with Banque Saudi Fransi to raise its credit facilities to SAR 684.46 million from SAR 550 million.
The amended agreement, signed on 12 March 2026, extends the financing period until 31 December 2028 and is backed by promissory notes, according to a bourse filing.
Meanwhile, the additional funding aims to support Al Majdiah’s expansion plans and accelerate the development of its real estate projects.
In January, Al Majdiah secured a SAR 500 million loan from Arab National Bank (ANB) to finance its upcoming project, aligning with its strategic expansion plans.
