Retal Urban Development Company has signed a development agreement with the National Housing Company (NHC) for a large-scale residential project valued at USD 1.38 bln, according to a stock exchange filing.
The project, located in Riyadh’s Al-Fursan suburb, will include 4,839 residential units, comprising villas and apartments, along with associated commercial and mixed-use components.
Under the agreement, Retal will handle the design, marketing, financing, construction, and delivery of the units, as well as the development of project infrastructure across an area of approximately 1 mln square meters. The contract duration is 48 months from the signing date.
