Dar Al Majid Real Estate Company, also known as “Al Majidiyah,” a leading real estate development company in the Kingdom of Saudi Arabia, has announced the opening of nominations for its new Board of Directors. This announcement marks a significant step in the company’s governance and strategic direction, as the new Board will oversee the company’s operations for a four-year term, commencing on April 13, 2026, and concluding on April 12, 2030.
Background on the company and its importance in the Saudi market
Al Majdiyah Real Estate is a major player in the Saudi real estate market, particularly in the capital, Riyadh, where it is renowned for developing innovative and modern residential projects that meet the aspirations of a broad segment of society. The company's activities align with the goals of Saudi Vision 2030, especially those related to increasing homeownership rates and developing high-quality urban infrastructure. The stability of the company's leadership and the strength of its board of directors directly contribute to its ability to execute major projects and effectively participate in the Kingdom's urban development.
Details of the nomination process and regulatory framework
According to the company's official statement published on the Saudi Stock Exchange (Tadawul), nominations are open for nine board positions. The company affirmed that the process will be conducted in full compliance with applicable regulations and laws, primarily the Companies Law and the Corporate Governance Regulations issued by the Capital Market Authority. The company will also apply the board membership policies, standards, and procedures approved by its General Assembly, ensuring the selection of board members with the necessary competence and experience to lead the company toward achieving its objectives. The application period will begin on Tuesday, January 27, 2026, and continue until March 1, 2026.
Strategic importance and expected impact
The formation of the new board of directors is of paramount strategic importance, not only to Al Majdiyah Company and its shareholders, but to the Saudi real estate sector as a whole. The decisions made by the incoming board will impact the company's investments, its geographic expansion, and its ability to adapt to market fluctuations. Furthermore, adherence to transparent governance standards will bolster the confidence of local and international investors in the Saudi market and highlight the maturity of the regulatory environment overseen by the Capital Market Authority. Analysts and investors are expected to closely monitor this process, as the identities and experience of the elected members will provide clear indicators of the company's future and its development plans over the next four years.
The company invited all interested and qualified individuals who meet the requirements to submit their nomination applications within the specified period, with the election of the new board members to take place at the next general assembly meeting, the date of which will be announced later.
