Riyadh – Mubasher: Retal Urban Development Company penned a memorandum of understanding (MoU) with Al Bilad Capital Company to launch a closed real estate investment fund with an estimated value of SAR 2 billion.
The fund will be created to develop and manage a multi-use project in Riyadh, according to a bourse disclosure.
In line with the goals of the Kingdom's Vision 2030 to create a high quality of life, the project will be located in the Qurtubah district of Riyadh in an area of 192,000 square metres.
The two entities signed the joint agreement on 13 November 2024.
Last October, Retal sealed two deals with Roshn to establish residential units in the Sedra residential neighbourhood in Riyadh.
