Element List	Explanation
Introduction	Dar Al Majdiah Real Estate Company ("Al Majdiah") announces the signing of a real estate development agreement with Alistithmar Real Estate Fund 9, pursuant to which the Company will act as the master developer for the development of two residential towers located in Zone 1 of Masar Destination in Makkah, on a plot of land with a total area of approximately 6,614 square meters. The project represents a strategic addition to the Company's development portfolio and further strengthens its presence in the City of Makkah.
Date of Announcement of the Award	2026-08-04 Corresponding to 1448-02-21
Contract Subject Matter	Dar Al Majdiah Real Estate Company, in its capacity as the master developer, will undertake the management and development of a residential real estate project at Masar Destination in Makkah. The scope of work includes planning, design, development, supervision and monitoring of construction works, coordination with relevant authorities, management of contracts with contractors and consultants, as well as the marketing and sale of the project's units, all in accordance with the scope of work set out in the agreement.
The Entity with Which the Contract was Signed	Alistithmar Real Estate Fund 9
Date of Signing the Contract	2026-08-04 Corresponding to 1448-02-21
Contract Value	The total estimated contract value is SAR 395,800,000, excluding Value Added Tax (VAT).
Contract Details	The project aims to develop a land plot located within Masar Destination in the City of Makkah. Under the agreement, Dar Al Majdiah Real Estate Company has been appointed as the master developer of the project, in accordance with the scope of work and obligations specified in the agreement.
Contract Duration	30 Gregorian months commencing from the date of issuance of the building permit.
Financial Impact and the Relevant Period	The financial impact of the contract will be reflected in the Company's financial statements throughout the project execution period. Revenue will be recognized based on the percentage of completion method, commencing from the implementation phase of the contract.
Related Parties	It should be noted that Mr. Abdulsalam bin Abdulrahman Al Majed, Member of the Board of Directors and Acting Chief Executive Officer, serves as a member of the Board of Directors of Alistithmar Real Estate Fund 9 as the Company's representative. This constitutes an indirect interest in accordance with the applicable regulations. In addition, Dar Al Majdiah Real Estate Company holds 16.6% of the Fund's units.