Riyadh – Mubasher: Retal Urban Development Company signed an agreement, on 16 December 2024, with its subsidiary Building Construction Company Limited at a value of SAR 349 million.
The two entities will establish 502 residential units in Al Fursan district without any preferential conditions or benefits, according to a bourse disclosure.
The development project, which holds a tenor of 30 months, will be financed through available facilities and off-plan sales proceeds.
The project is expected to have a positive impact on Retal’s financial results following the execution for the years 2025, 2026, and 2027.
Last May, Building Construction penned a SAR 2.89 billion project deal with Roshn Group.
