MSGA Investment announces the signing by its subsidiary, MSGA Al-Oula Real Estate Development Company, of an agreement to establish a closed private real estate investment fund with Dinar Investment Company as the fund manager, and Asar Investment Company as the landowner, for the development of a land plot in Al-Wisam District, Riyadh

MSGA Al-Oula Real Estate Development Company signed an agreement on July 14, 2026, with Dinar Investment and Asar Investment to establish a private real estate investment fund for a 1,000-unit residential project in Al-Wisam District, Riyadh.
The targeted fund size is approximately SAR 700 million, with the land valued at SAR 259,619,698 and development fees capped at 15% of total development costs.
MSGA Al-Oula will manage the project implementation plan and development, while Dinar Investment will handle the fund's structure, private placement, and management.
The agreement is valid for 90 days or until fund establishment is complete, with positive financial impacts expected during 2027 and 2028.

Element List	Explanation
Introduction	MSGA Investment announces that its subsidiary, MSGA Al-Oula Real Estate Development Company (in its capacity as the Developer), has signed with Dinar Investment Company (in its capacity as the Fund Manager) and Asar Investment Company (in its capacity as the Landowner) an agreement to establish a closed-ended private real estate investment fund to develop a land plot owned by Asar Investment Company located in Al-Wisam District, Riyadh, with a targeted fund size of approximately SAR (700) million and approximately (1,000) residential units
Date of Announcement of the Award	2026-07-14 Corresponding to 1448-01-29
Contract Subject Matter	An agreement to establish a private real estate investment fund to develop a land plot in Al-Wisam District, Riyadh
The Entity with Which the Contract was Signed	Dinar Investment Company in its capacity as the Fund Manager, and Asar Investment Company in its capacity as the Landowner
Date of Signing the Contract	2026-07-14 Corresponding to 1448-01-29
Contract Value	The target value of the fund is approximately SAR (700) million. The parties have also agreed that the value of the land subject to the agreement shall be SAR (259,619,698) (excluding real estate transaction tax and brokerage fees), that the development fees shall be a percentage not exceeding (15%) of the total development costs (to be determined later in the development agreement)
Contract Details	The agreement includes cooperation between the parties to establish a private real estate investment fund with the aim of developing a land plot in Al-Wisam District, Riyadh, and constructing a residential project comprising approximately (1,000) residential units Under the agreement, Dinar Investment Company shall establish the appropriate investment structure for the fund, prepare its documents, offer its units through a private placement, and complete all relevant regulatory requirements, in addition to managing the fund after its establishment until its liquidation. MSGA Al-Oula Real Estate Development Company shall prepare the project implementation plan, which includes the development cost and duration as well as the proposed designs and plans for the project, in addition to developing the project after obtaining the necessary relevant approvals and permits, provided that the details of the land ownership transfer, the development works, and the mechanism for development fee entitlement shall be governed by the relevant definitive agreements
Contract Duration	The agreement shall remain in effect for a period of (90) days from its signing date or until the completion of the fund establishment procedures, whichever comes first, and may be extended by written agreement between the parties
Financial Impact and the Relevant Period	The financial impact of the agreement is expected to be reflected positively on the Company's results during 2027 and 2028, following the completion of the fund establishment procedures, the execution of the relevant definitive agreements, and the fulfilment of the relevant regulatory requirements
Related Parties	None
Additional Information	It is worth noting that this agreement sets out the principles and preliminary arrangements for the establishment of the fund. All final details relating to the establishment of the fund, the transfer of land ownership, and the development works are subject to the fund's terms and conditions and the relevant definitive agreements. The Company will disclose any material developments or updates in accordance with the relevant laws and regulations