| Element List | Explanation |
|---|---|
| Introduction | Retal Urban Development Company announces the signing of a development agreement with the National Housing Company (NHC) for a residential real estate project that includes commercial and mixed-use components, with a total value of SAR 5.2 billion. The agreement aims to develop 4,839 residential units (villas/apartments), in addition to the execution of the infrastructure for the project, located in Al-Fursan suburb (third area) in Riyadh City. |
| Date of Announcement of the Award | 2025-11-17 Corresponding to 1447-05-26 |
| Contract Subject Matter | The agreement primarily includes the development of 4,839 residential units (villas/apartments), in addition to the execution of the project’s infrastructure. |
| The Entity with Which the Contract was Signed | National Housing company (NHC) |
| Date of Signing the Contract | 2025-12-01 Corresponding to 1447-06-10 |
| Contract Value | Total estimated value 5.2 billion Saudi Riyals. |
| Contract Details | The development of a residential real estate project with the National Housing Company (NHC), which includes commercial and mixed-use components, with a total value of SAR 5.2 billion, the project aims to develop 4,839 residential units (villas/apartments), covering the design, marketing, financing, construction, completion, and delivery of the residential units in the villa and apartment zones, in addition to the execution of the project’s infrastructure on land spanning approximately 1 million square meters located in Al-Fursan suburb (third area) in Riyadh City. |
| Contract Duration | 48 months from the signing date of the agreement. |
| Financial Impact and the Relevant Period | The project is expected to have a positive impact on the Company’s results during the development period of the project for the years 2026–2027–2028–2029. |
| Related Parties | n/a |
| Additional Information | The Company would like to refer that the awarding of this project was previously announced in the announcement published on 2025-11-18 corresponding to 1447-05-27, through the following link on Tadawul website: |
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=91581&anCat=1&cs=4322&locale=en
For any inquiries, please contact Investor Relations Department at:
+966138013803
or by e-mail:
ir@retal.com.sa
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