Retal Urban Development Company announces the signing of a contract with Building Construction Company (subsidiary) to construct 60 residential units in Jeddah city
Retal Urban Development Company announces signing a contract with Building Construction Company (Subsidiary) to construct 60 residential units in Al-Mohammedia district located in Jeddah city without any preferential conditions or benefits. The project will be financed through available facilities and off-plan sales proceeds.
Date of Announcement of the Award
2024-11-20 Corresponding to 1446-05-18
Contract Subject Matter
Construction of 60 residential units in Jeddah city without any preferential conditions or benefits
The Entity with Which the Contract was Signed
Building Construction Company ( subsidiary)
Date of Signing the Contract
2024-11-20 Corresponding to 1446-05-18
Contract Value
112.67 Million SAR (excluding taxes if applicable)
Contract Details
Construction of 60 residential units in Jeddah city
Contract Duration
30 months from the effective date of the contract
Financial Impact and the Relevant Period
The project is expected to have a positive impact on the company's results post the start of the project execution for the years 2024 , 2025 ,2026 & 2027
Related Parties
Member of the Board / Mr. Abdul Rahman Ibrahim Al-Jalal, and Member/ Mr.Abdullah Faisal Al-Braikan, CFO of Retal Urban Development Company/ Mr. Ammar Mohammed Al-Ghoul, and CEO of the Building Construction Company / Mr. Omar Ibrahim Al-Jalal
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