Riyadh – Mubasher: Retal Urban Development Company signed an agreement with its subsidiary Building Construction Company to develop 60 residential units in the Al Mohammedia district.

The deal was valued at SAR 112.67 million, with a 30-month tenor from the signing date of 20 November 2024, according to a bourse disclosure.

Located in Jeddah, the project will be financed through available facilities and off-plan sales proceeds and is expected to positively impact the company's results for the years between 2024 and 2027.

Retal recently teamed up with Al Bilad Capital Company to launch a real estate investment fund valued at SAR 2 billion.