“Al Majidiya” signs a memorandum of understanding to establish an educational real estate fund
Company signed "Dar Al Majid Real Estate" A non-binding memorandum of understanding with a company "AlAhli Finance"in its capacity as Fund Manager, and each of the Company "Rakaz Real Estate" And company "First Avenue Real Estate Development"With the aim of establishing an educational real estate investment fund to acquire and develop educational lands, and to study partnership opportunities with local and international educational operators to develop and operate qualitative educational projects.
According to a statement on "Saudi Arabia trading"The agreement was signed on June 8, 2026, and will extend for one year, and stipulates studying the establishment of an educational real estate investment fund, to invest in educational assets and projects, and studying partnership opportunities with educational operators, in a way that supports the development of educational real estate investments and enhances sustainable returns.
The statement explained that Abdul Salam bin Abdul Rahman Al Majid, member of the Board of Directors and Acting CEO, is a related party, as he serves on the board of directors of First Avenue Real Estate Development Company, representing Dar Al Majid Real Estate Company, which It owns 9.2% in First Avenue Real Estate Development Company.
The company confirmed that there is no direct financial impact at the present time, as the memorandum is an initial, non-binding framework for cooperation and study of future investment opportunities between the parties.
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