Retal Signs Contract with Subsidiary to Implement 285 Housing Units in Riyadh for SAR 374 Million

Retal Urban Development Company announced on Wednesday that it signed a contract with Building Construction Company (subsidiary owned by 80%) to construct 285 residential units in the Murcia zone, Khozam suburb in Riyadh without any preferential conditions or benefits. The project will be financed through available facilities and proceeds from off-plan sales, with the contract value amounting to 374 million riyals, excluding taxes and fees, if any.

The Company stated in a statement today on “Tadawul” that the project is expected to have a positive impact on its financial results after starting to implement the project for the years 2025, 2026 and 2027.