Dar Al Majed Real Estate Co., known as Al Majdiah, has reappointed Khaled Al Majed as Chairman and elevated Majed Al Majed to Vice Chairman as part of a leadership reshuffle that took effect in mid-April. The appointments followed shareholder approval on April 13, 2026, during an ordinary general meeting where investors elected board members for a new four-year term. Abdulsalam Al Majed, who previously served as Chief Executive Officer, was named Managing Director in the restructuring announced to Saudi Arabia's stock exchange Tadawul on April 15.
The reappointment of Al Majed to the chairman role reflects continuity in leadership at the Riyadh-based real estate developer, which has pursued an aggressive expansion in residential projects across the kingdom. Al Majdiah also formed a nomination and remuneration committee comprising Ali Al Ghamdi, Mohammed Al Majed, and Salah Al Zamil, while appointing representatives to the Capital Market Authority and Tadawul to oversee compliance with Saudi capital market regulations. The board restructuring comes as the company navigates leadership changes at the executive level, with Abdulsalam Al Majed assuming the managing director position after Sulaiman Alayed's departure by mutual agreement in November 2025.
Limited biographical information on Khaled Al Majed's professional background is publicly available. He previously held the chairman position at Al Majdiah and has been associated with the company through its growth phase. A separate executive named Khaled Abdulrahman Al Majed, with 20 years of experience in real estate, asset management, and finance, was appointed Chief Executive Officer of Edamah in Bahrain in March 2025 after serving as Vice President of Asset Management at Premier Group; however, there is no direct evidence linking this executive to the Al Majdiah appointment.
Al Majdiah operates as a publicly listed residential real estate developer headquartered in Riyadh, specializing in off-plan villa and apartment developments. The company has developed more than 12,000 homes in the past several years and has collaborated extensively with the National Housing Company on projects supporting Saudi Vision 2030. In September 2025, Al Majdiah signed contracts valued at approximately 454 million Saudi riyals (approximately 121 million dollars) with Tatweej Contracting for construction of two major residential projects in Riyadh and Jeddah. The developer also secured a 500 million riyal credit facility from Alinma Bank in January 2026 to fund expansion of its project portfolio.
The reappointment of Al Majed during a period of active project execution and secured financing suggests the board sought continuity in chairman leadership as the company pursues its portfolio expansion. The appointment reflects confidence in his stewardship at a time when Al Majdiah is managing multiple large-scale residential developments and navigating changes at the executive level. The structural separation of the chairman and managing director roles, with Abdulsalam Al Majed retaining operational responsibility after his previous tenure as CEO, may indicate an attempt to balance strategic oversight with day-to-day execution as the company scales its development activities across major Saudi cities.
