Retal signs agreement with National Housing to develop 759 housing units in Riyadh for SR864 mln

Retal Urban Development Company announced on Tuesday signing of a sub-development agreement on September 19, 2022 with the National Housing Company to develop 759 housing units in Al-Fursan district 1 in Riyadh with a total land area of 227,837 square meters.
The company said in a statement on Tadawul that the financing of the project will be mainly based on the off-plan sales system and partly on self-financing, and it is expected that the project will be completed within 42 months from the date of entry into force of the agreement.
It added that the project is expected to have a positive impact on the company’s results post the start of sale and the project execution. The details of the financial impact and project developments will be announced during the coming period.