Retal Urban Development Company has signed a contract with Building Construction Company, a subsidiary, to construct 502 residential units in Al-Fursan district in Riyadh.
The 30-month contract is valued at 349 million Saudi riyals ($92.89 million), the developer said in a statement to the Saudi stock exchange.
The project will be funded through the available facilities and off-plan sales proceeds.
The contract is anticipated to have a positive impact on the company’s results in 2025, 2026 and 2027 after the start of the project execution.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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