Saudi: Retal Urban Development seals $64mln deal with subsidiary

The agreement was signed on April 25, 2024 for 26 months

Staff Writer, Mubasher

April 29, 2024

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Riyadh – Retal Urban Development Company has signed a SAR 240 million agreement with its subsidiary Building Construction Company to build eight residential buildings in Riyadh.

The agreement was signed on 25 April 2024 for 26 months, according to a bourse filing.

In 2023, Retal Urban Development recorded a 17.66% year-on-year (YoY) decrease in net profit, falling to SAR 202.35 million from SAR 245.74 million reported in the previous year.

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