Retal signs SAR 790M development pact for 295 residential units in Riyadh

19/05/2024 Argaam
Logo ofRetal Urban Development Co.

Logo of Retal Urban Development Co.

Retal Urban Development Co. signed, on May 16, a sub-development agreement with the National Housing Co. (NHC) to develop 295 residential units in Murcia zone, Khozam suburb in Riyadh, at an estimated value of SAR 790 million.

 

The project's duration is 42 months, effective from the agreement date, the company said in a statement to Tadawul.

 

The project’s total land area is 93.500 square meters.

 

Retal expects the deal to have a positive impact on the financial results for 2024, 2025, 2026 and 2027.

 

There are no related parties to the agreement, the statement added.

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