Riyadh – Mubasher: Retal Urban Development Company inked a contract with its subsidiary Building Construction Company to develop 285 residential units in the Murcia zone.
The two entities penned the agreement at a value of SAR 374 million on 7 January 2025, according to a bourse disclosure.
Located in the Khozam suburb in Riyadh, the development project will be financed through available facilities and off-plan sales proceeds.
The 30-month deal is expected to have a positive impact on Retal’s results following the start of the project execution for the period from 2025 to 2027.
Retal sold a project for SAR 470 million to commence the procedures to liquidate the Business Park Fund.
