Retal inks SAR 374.8M deal with Roshn to purchase, develop land

29/11/2023 Argaam
Logo ofRetal Urban Development Co.

Logo of Retal Urban Development Co.

Retal Urban Development Co. signed on Nov. 28 an agreement with Roshn Real Estate Co., a subsidiary of the Public Investment Fund (PIF), to purchase and develop residential land for housing units in Sedra residential neighborhood in Riyadh.

 

In a statement on Tadawul, the company said that the contract is worth SAR 374.76 million and has a term of 36 months, with the target to develop 363 units.

 

The project is expected to have a positive impact on the Retal’s results during the project development period, from 2024-2026.

 

No related parties are included in the deal, the statement said.

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