On July 14, 2026, MSGA Investment announced that its subsidiary, MSGA Al-Oula Real Estate Development Company, has signed an agreement with Dinar Investment Company (as Fund Manager) and Asar Investment Company (as Landowner) to establish a closed-ended private real estate investment fund targeting a fund size of approximately SAR 700 million, aimed at developing a land plot in Al-Wisam District, Riyadh into a residential project comprising approximately 1,000 units. The agreed land value is SAR 259,619,698 (excluding real estate transaction tax and brokerage fees), with development fees not exceeding 15% of total development costs. The agreement is valid for 90 days from signing or until fund establishment is completed, whichever comes first, and the financial impact is expected to be reflected positively on the Company's results during 2027 and 2028, subject to completion of fund establishment procedures and fulfilment of relevant regulatory requirements.

Original announcement:

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