Dar AlMajed Real Estate (Almajdiah) has officially announced the complete sell-out of Phase 1 for its strategic residential project, Meshraf Almajdiah, in Madinah. The total sales value reached SAR 231,466,000, encompassing 304 residential units acquired entirely by non-Saudi investors. This milestone underscores the growing appeal of the Saudi real estate market and its capacity to attract foreign capital to key strategic destinations. This direct sales achievement is the result of Almajdiah’s proactive international outreach to foreign investors, highlighted by its successful participation in the Saudi Luxury Real Estate Show (SLRE) held late last August in London. This influx of foreign capital aligns with supportive government initiatives, following the Council of Ministers' approval of regulations permitting non-Saudi real estate ownership within designated zones. Meshraf Almajdiah caters to the surging demand for premium urban developments in Madinah, driven by the city's unique spiritual significance and economic prominence. The project sets an advanced benchmark in the real estate development sector, featuring sophisticated architectural and environmental designs that create a sustainable living environment. By seamlessly blending cultural authenticity with modern amenities, the development meets the evolving expectations of both residents and investors. Abdulsalam Almajed, Managing Director and Acting CEO of Almajdiah, commented: "The complete sell-out of Phase 1 at Meshraf Almajdiah to non-Saudi investors reflects the deepening confidence in the Saudi real estate landscape and highlights the unique investment appeal of Madinah. Driven by our vision to craft an 'inspiring life,' Almajdiah is firmly committed to advancing the objectives of Saudi Vision 2030 by attracting high-quality investments and delivering innovative real estate products that elevate the quality of life." Almajdiah boasts an expansive and diverse real estate portfolio featuring properties available for foreign ownership. In addition to Meshraf Almajdiah in Madinah, this includes the Makana Tower and Riyadh Gate projects in the capital, Riyadh. The company is also active in Makkah through its involvement in the Masar Destination and as part of the development consortium for the Eastern Hindawiyah project. This robust portfolio underscores Almajdiah's commitment to expanding its investment footprint and delivering premium residential options that support the region's broader quality of life targets.
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