Retal Urban Development Company has signed an agreement with Saudi Railway Company (SAR) to establish a special purpose vehicle (SPV) to build a commercial mall.

The SPV will be equally owned by both the companies, Retal said in a statement to the Saudi stock exchange.

No financial details and construction timelines were disclosed.

(Writing by D Madhura; Editing by Anoop Menon)

(anoop.menon@lseg.com)