Retal Urban Development Company has signed a contract with Building Construction Company, a subsidiary, to construct 263 residential units in Riyadh.

The 30-month development contract is valued at 142.39 million Saudi riyals ($38 million), the company said in a statement to the Saudi stock exchange on Tuesday.   
  
The project is expected to positively impact Retal’s 2024, 2025, 2026, and 2027 financials, the statement said.

In April, Retal Urban Development awarded a SAR 240 million contract to Building Construction to develop eight residential buildings in the SEDRA housing project in Riyadh.

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

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