Announcement by Dar Al Majed Real Estate Company Regarding the Signing of an Agreement with Jadwa Al Manzel Real Estate Fund and Its Appointment as the Exclusive Developer of the Project

Dar Al Majed Real Estate Company (Almajdiah) signed an agreement on June 9, 2026, to serve as the exclusive developer for a residential project in Riyadh’s Al Khuzama District owned by Jadwa Al Manzel Real Estate Fund.
The contract is valued at SAR 211,612,500 and involves the development, management, and marketing of residential apartments over a 24-month period using a "Cost Plus" model.
The project is expected to have a positive financial impact that will appear progressively in the company’s results based on completion rates during the execution phase.
Related party interests were disclosed, as Almajdiah owns 10% of the fund units and its Acting CEO serves as a representative on the fund’s Board of Directors.

Element List	Explanation
Introduction	Dar Al Majed Real Estate Company (“Almajdiah”) announces the signing of an agreement with Jadwa Al Manzel Real Estate Fund, pursuant to which Dar Al Majed Real Estate Company has been appointed as the exclusive developer of the real estate project owned by the fund in the city of Riyadh. This project comes as part of the Company’s strategy to expand the development of high-quality residential and commercial projects in Riyadh, enhancing the Company’s presence in the real estate development sector and supporting its contribution to delivering high-quality real estate products that meet market needs.
Date of Announcement of the Award	2026-06-09 Corresponding to 1447-12-23
Contract Subject Matter	Appointment of Dar Al Majed Real Estate Company as the exclusive developer of the real estate project owned by Jadwa Al Manzel Real Estate Fund for the purpose of developing, executing, managing, and marketing the project under a Cost Plus development model.
The Entity with Which the Contract was Signed	Jadwa Al Manzel Real Estate Fund (represented by Ahdath Real Estate Data Company).
Date of Signing the Contract	2026-06-09 Corresponding to 1447-12-23
Contract Value	SAR 211,612,500
Contract Details	The project aims to develop, execute, and manage land owned by the first party, located in Al Khuzama District in Riyadh, with a total area of approximately 27,000 square meters, through the development of a residential project comprising diversified residential apartments, in addition to marketing and selling the units in accordance with the Off-Plan Sales (Wafi) regulations and related laws and regulations.
Contract Duration	24 calendar months.
Financial Impact and the Relevant Period	The project is expected, by the will of Allah, to have a positive impact on the Company’s financial results commencing from the start date of project execution, with the financial impact expected to appear progressively according to the project completion rates during the execution period.
Related Parties	It is noted that Board Member and Acting Chief Executive Officer, Mr. Abdulsalam bin Abdulrahman Al Majed, is a member of the Board of Directors of Jadwa Al Manzel Real Estate Fund as a representative of the Company. This interest is considered an indirect interest in accordance with the relevant regulations. In addition, Dar Al Majed Real Estate Company owns 10% of the fund units.