Logo of Retal Urban Development Co.
Retal Urban Development Co. established Rimal Park Fund (private real estate fund) with an estimated cash and in-kind value of SAR 65 million, which represents 33% of the fund's equity.
The fund aims to develop a luxurious business complex and a residential and commercial complex over two adjacent land plots spanning 54,503 square meters in Al-Khobar, Retal said in a statement to Tadawul.
The fund has a five-year term and is managed by BLOMINVEST Co.
Board Chairman Abdullah bin Abdullatif Al-Fozan, Vice Chairman Ali Abdullatif Al-Fozan and board member Fozan Mohammed Al-Fozan are related parties, Retal concluded.
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