Saudi Arabia's Tadawul All Share Index experienced a decline on Wednesday, dropping 102.73 points, or 0.92 percent, to close at 11,012.64. The total trading turnover on the benchmark index reached SR5.74 billion ($1.52 billion), with 83 stocks advancing and 177 retreating.
Market Performance
The MSCI Tadawul Index also fell, losing 19.88 points, or 1.34 percent, to close at 1,465.74. In contrast, the Kingdom's parallel market Nomu gained 114.57 points, or 0.5 percent, finishing at 23,002.51, with 36 stocks advancing and 31 declining.
Top Performers
The best-performing stock was Gas Arabian Services Co., whose share price surged by 6.06 percent to SR16.62. Other notable gainers included ARTEX Industrial Investment Co., which rose by 5.07 percent to SR11.20, and Al Majed Oud Co., which increased by 4.49 percent to SR142.
Worst Performers
On the downside, Yanbu Cement Co. was the worst performer, with its share price falling by 6.45 percent to SR15.51. Raoom Trading Co. and Almasane Alkobra Mining Co. also saw declines, with their shares dropping by 4.29 percent to SR66.90 and 3.79 percent to SR71, respectively.
Corporate Announcements
Dar Al Majed Real Estate Co., also known as Almajdiah, announced it has signed an agreement with Jadwa Al Manzel Real Estate Fund, appointing the company as the exclusive developer of a residential project in Riyadh valued at SR211.6 million. According to a Tadawul statement, the project involves developing, executing, managing, and marketing a plot of approximately 27,000 square meters in the Al Khuzama District. The plan includes diversified residential apartments to be sold under the Off-Plan Sales regulatory framework.
The 24-month contract follows a Cost Plus development model, with Jadwa Al Manzel represented by Ahdath Real Estate Data Co. Almajdiah noted that the deal aligns with its broader strategy to expand its footprint in high-quality residential and commercial development across Riyadh. Financial benefits are expected to materialize progressively in line with project completion milestones.
The company disclosed a related-party interest, noting that Board Member and Acting CEO Abdulsalam bin Abdulrahman Al-Majed serves on the board of Jadwa Al Manzel Real Estate Fund, and that Dar Al Majed holds a 10 percent stake in the fund's units. Almajdiah's share price dropped by 0.27 percent on the main market to SR7.36.
