Riyadh – Mubasher: Retal Urban Development Company began the procedures to liquidate the Business Park Fund by selling the project with total a value of SAR470 million.
The Tadawul-listed company received a notification from the fund manager (BLOMINVEST) regarding the process, according to a bourse disclosure.
Retal highlighted that legal formalities associated with the transaction are currently under completion, adding that it owns 18.82% of the total fund’s units.
The liquidation of the fund is expected to have a positive impact on the company’s results in 2024, with estimated profits of nearly SAR 45 million.
Meanwhile, the final financial impact will be subject to review by the fund manager. The expected proceeds will be used to support Retal’s sustainable growth and strategic expansion.
Retal and its subsidiary Building Construction Company Limited recently inked a joint deal valued at SAR 349 million.
