Al Majdiah approves transfer of SAR 44.6M statutory reserve to retained earnings

Al Majdiah shareholders approved transferring SAR 44.6 million from statutory reserves to retained earnings

Dar Al Majed Real Estate Co.’s (Al Majdiah) shareholders approved transferring the company’s statutory reserve to retained earnings in an extraordinary general meeting (EGM) on Jan. 14.

The statutory reserve stood at SAR 44.6 million, as reported in the company's financial statements as of Sept. 30, 2025, according to a statement to Tadawul.

Shareholders also approved amending the title of the company’s bylaws to align with its transition into a listed joint-stock company, as well as amending and deleting other articles.