Retal signs 2 agreements with ROSHN at SAR 356.9 mln to develop residential projects

15/12/2022 Argaam
Logo ofRetal Urban Development Co.

Logo of Retal Urban Development Co. 

Retal Urban Development Co. signed, on Dec. 14, two residential land purchase and development agreements at a total value of SAR 356.9 million with ROSHN Real Estate Co. to develop villas and apartment units within Sedra Compound in Riyadh.

 

ROSHN is owned by the Public Investment Fund (PIF).

 

In a statement to Tadawul, Retal added the land plots span an area of 96,900 square meters. It expected the total number of units to reach 554.

 

The agreements are valid for 24 and 36 months, respectively, Retal noted, expecting them to have a positive financial impact on its results for the period from 2023-2025.

 

There are no related parties to these agreements, Retal concluded.

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