Retal unveils plans to build over 750 residential units in Riyadh

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The Saudi developer has already inked a sub-development agreement with the National Housing Company for a 227,837 sq m land allocation

Staff Writer, TradeArabia

September 21, 2022

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Saudi Arabia - Retal Urban Development Company has announced plans to develop 759 residential units in the Al Fursan District I in Riyadh at a total investment of SR864 million ($230 million).

The Saudi developer has already inked a sub-development agreement with the National Housing Company for a 227,837 sq m land allocation.

The project will be financed based on self-financing and off-plan sales, said Retal Urban Development Company in its filing to Saudi bourse Tadawul.

Retal said the project is due to be completed in early 2026 and will have a positive impact on the company's results post the start of sale and the project execution.

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