ROSHN, Retal Urban Development ink agreement to build 103 residential units in Riyadh

Agreement signing ceremony

ROSHN Co., a wholly-owned subsidiary of the Public Investment Fund (PIF), signed a partnership agreement with Retal Urban Development Co. to build 103 housing units in the first phase of the Sidra project, Riyadh.

ROSHN CEO David Grover said the company is committed to working closely with private sector developers. "I am delighted to see Retal joining us as the first real estate developer, and we look forward to working closely with all of our future partners to develop distinctive residential communities across the Kingdom.”

On the other hand, Retal CEO Abdullah Al Braikan, said: "The partnership is a good step for Retal, as we work with a national real estate development company to achieve a common goal, which is meeting the aspirations of urban development, in line with Vision 2030 methodology. This encourages the establishment of residential communities that achieve the highest quality of life."

He added that the deal is another achievement that will add to Retal's track record of success.

In November, ROSHN launched its first residential community in the north of Riyadh, on a total area of 20 million square meters. The new project, which is located close to King Khalid International Airport, comprises more than 30,000 residential units, Argaam earlier reported.