| Element List | Explanation |
|---|---|
| Introduction | Retal Urban Development Company announces signing a development management agreement on 19/02/2024 AD with Business Oasis Fund, a fund managed by BlomInvest Saudi Arabia to appoint Retal as the development manager of an offices and showrooms premium complex in the city of Riyadh without any preferential conditions or benefits |
| Date of Announcement of the Award | 2024-02-19 Corresponding to 1445-08-09 |
| Contract Subject Matter | Development management of an offices and showrooms premium complex at AlNarjes district, in the city of Riyadh as per the terms and conditions without any preferential conditions or benefits |
| The Entity with Which the Contract was Signed | Business Oasis Fund, a fund managed by BlomInvest Saudi Arabia |
| Date of Signing the Contract | 2024-02-19 Corresponding to 1445-08-09 |
| Contract Value | 25 Million SAR (Not including taxes if applicable) |
| Contract Details | Develop an offices and showrooms premium complex at AlNarjes district, in the city of Riyadh on a 40,000 square metre land plot |
| Contract Duration | 30 months starts with the beginning of construction activity |
| Financial Impact and the Relevant Period | The project is expected to have a positive impact on the company's results post the start of the project execution for the years 2024, 2025 and 2026 |
| Related Parties | Chairman of the Board Mr. Abdullah Abdul Latif Al- Fozan |
,Vice-Chairman of the Board Mr. Ali Abdul Latif Al- Fozan
,Board member Mr. Fozan Muhammad Al- Fozan
and Board member Mr. Fahd Abdul Rahman Al-Mujil
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