Retal Urban Development Company, Saudi Arabia announces the signing of a sub-development agreement with the National Housing Company.
The agreement is to develop 550 housing units in Al-Fursan district 2 in Riyadh with total land area of 166,446 square meters, the Company stated in a statement to Tadawul.
Total estimated cost of the agreement is SR 605 million and the project will be financed based on self-financing and off-plan sales.
According to the developer, the project is expected to have a positive impact on the company’s results post the start of sale and the project execution. The duration of the project is 42 months.
Earlier, during September 2022, the Company has awarded Al-Fursan district 1 housing unit contract. (read more)
