Retal signs contract to implement 352 residential units in Jeddah City at SAR 214 million

Retal Urban Development Company announced the signing of a contract with Building Construction Company Limited (Subsidiary) to implement 352 residential units in Jeddah City at an amount of SAR 214 million.

The company stated that the contract subject matter is to implement 352 residential units in the Sadayem Suburb located in Jeddah City on a total land area of 100,958.79 square meters. The contract duration is 30 months from its effective date on Nov. 9, 2023.

The company stated that the project is expected to have a positive impact on the company’s results post the start of the project implementation for the years 2023, 2024, 2025 and 2026.

Related Parties:

Member of the Board / Mr. Abdul Rahman Ibrahim Al-Jalal, and Member/ Mr.Abdullah Faisal Al-Braikan, CFO of Retal Urban Development Company/ Mr. Ammar Mohammed Al-Ghoul, and CEO of the Building Construction Company Limited / Mr. Omar Ibrahim Al-Jalal.