Retal signs SAR 1.4B deal to develop residential units

Retal Urban Development Co. signed a sub-development agreement with the National Housing Co. to develop 995 residential units in Al-Aziziyah district, Al-Khobar, at an estimated value of SAR 1.41 billion, excluding taxes and fees.

The contract duration is 42 months from the commencement date of the agreement.

The relevant financial impact will likely reflect on the company’s results over the project execution term (2025-2028).

There are no related parties involved in the agreement, the statement added.