Retal’s portfolio hits SAR 31B, 50% of projects in Riyadh: CFO

Logo of Retal Urban Development Co.

Retal Urban Development Co.’s (Retal) portfolio amounts to SAR 31 billion. This comprises SAR 18 billion in direct development and SAR 13 billion in real estate developments, including a divestment that was carried out in Q4 2024, said CFO Ammar Al-Ghoul.

The company's projects are distributed as follows: 50% in the Riyadh, 40% in the Eastern Province, and 10% in the Western Province, he added, in an interview with Al Arabiya TV.

Al-Ghoul also pointed out that about 90% of the company’s projects are within fully integrated urban development zones, adding that the company’s sales reached SAR 1 billion in Q1 2025, compared to nearly SAR 3 billion in the entire of 2024.

The company does not own undeveloped land, as all land is designated for contracted projects, said the official, highlighting that Retal aims to expand into integrated and mixed-use residential developments in the future.

He also stated that more than 800 housing units were delivered in 2024, with over 1,800 units targeted to be handed over in 2025. Meanwhile, around 65% of the total project portfolio has already been sold out, with the remaining portion in progress and pending delivery.

As for interest rates, Al-Ghoul stated that despite high interest rates, the company’s debt remains very balanced, with a net debt-to-equity ratio between 1.1-1.28, which is considered a very acceptable average in the sector.

According to data available with Argaam, Retal’s profit rose to SAR 68.1 million by the end of Q1 2025, up 9% compared to SAR 62.3 million in Q1 2024.