Al Majdiah names Abdulsalam Al-Majed Acting CEO as Alayed departs by mutual agreement

09:16 AM (Mecca time) Argaam
Logo ofDar Al Majed Real Estate Co. (Al Majdiah)

Logo of Dar Al Majed Real Estate Co. (Al Majdiah)

Dar Al Majed Real Estate Co. (Al Majdiah) said its board approved the mutual termination of CEO Sulaiman Alayed, effective Nov. 6.

 

The company said in a statement to Tadawul that the board decided to appoint Managing Director Abdulsalam Al-Majed as Acting CEO effective Nov. 6, until further notice.

 

Al-Majed holds a bachelor’s degree in business administration from King Saud University and has been a key leader in establishing Al Majdiah’s real estate development operations and market presence.

 

He previously served as CEO from 2020 to 2024, during which the company expanded its residential project portfolio in Riyadh and achieved significant business growth. He also has extensive experience in real estate product development and investment management.

 

Alayed had been appointed CEO on July 1, 2024, according to Argaam data. Al Majdiah’s shares began trading on the Main Market (TASI) on Sept. 10, 2025, at SAR 14 per share.

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