Building Construction Company, one of Retal Urban Development Company’s major subsidiaries, has been given a SAR374 million ($100 million) construction contract for a significant project in the Saudi capital, Riyadh.
According to the agreement, 285 residential units in the Khozam suburb of Riyadh’s Murcia zone will be built by Building Construction Company, Retal stated in its statement to the Saudi stock exchange Tadawul.
According to the statement, the project would be funded by off-plan sales profits and existing infrastructure.
Regarding the financial impact, Retal stated that the project is anticipated to improve the company’s performance after it begins to be executed in the years 2025–2027.
