A subsidiary of Retal Urban Development Company has signed a contract with ROSHN Group, a unit of the Public Investment Fund (PIF), to design and construct six residential buildings within the Sedra master development in Riyadh.

The contract, awarded to Building Construction Company, is valued at 461.9 million Saudi riyals ($123.16 million), the company said in a statement to the Saudi stock exchange on Wednesday.  
 
The duration of the contract is 28 months, starting from the date of receiving the notice to proceed.

In addition, Building Construction will undertake infrastructure, landscape, and related electromechanical works within the ROSHN master planned Sedra.

The project is expected to have a positive impact on Retal’s results during its execution in 2026, 2027, and 2028.

In February, ROSHN Group awarded new contracts worth SAR1.5 billion ($400 million) for the Sedra Community.

The work scope includes the construction of more than 1,900 residential units and infrastructure development works related to the retail facilities of Sedra.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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