Shaimaa Hefzy

Saudi Arabia's Dar Al Majed Real Estate Company plans to offer a 30% stake in an initial public offering (IPO) on the Saudi Stock Exchange's main market, according to a statement on Tuesday.

The IPO comes amid a boom in IPOs on the Saudi stock exchange, which accounted for approximately 85% of the total value of IPOs in Gulf markets in the first half of the year, according to a report issued by the Kuwait Financial Centre, known as "Markaz," for financial services and consulting. This is in addition to expansions in the real estate sector as part of the Kingdom's plan to diversify the economy away from oil.

Dar Al Majid will be the 16th share in   The real estate sector in the main market of the stock exchange, in which 15 companies are currently traded.

Points about the company and the offering

(According to the company's statement and website)

- Established in 2014, it has been in operation since 1969 and is a family business.

- 90 million shares will be offered for subscription, representing 30% of its capital.

The bookbuilding period (institutional subscription) will run from July 29 to August 4, 2025. The individual subscription period will run from August 14 to August 18.

The Company will not receive any of the proceeds from the offering, which will be distributed to the selling shareholders.

(Prepared by: Shaimaa Hefzy, Edited by: Yasmine Saleh, Contact: zawya.arabic@lseg.com)

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