Retal signs SAR 972M contract with subsidiary to build 901 housing units in Jubail

08:39 AM (Mecca time) Argaam
Logo ofRetal Urban Development Co.

Logo of Retal Urban Development Co.

Retal Urban Development Co. signed, on Nov. 6, a contract with Building Construction Co. (BCC) to develop 901 residential units (villas) for a project owned by Jubail and Yanbu Industrial Cities Services Co. (JABEEN) in Jubail City, at a total value of SAR 972 million, excluding VAT.

 
BCC is 80% owned by Retal.
 

The contract duration is 27 months, and is expected to have a positive impact on the company’s financial

 

results over the implementation period, spanning 2025–2027, the company said in a statement to Tadawul.

 

Abdullah Al Braikan, BCC Chairman and Retal CEO, Abdulrahman Al Jalal and Ammar Al Ghoul, BCC board members, and Omar Al Jalal, BCC CEO and board member.

 

The contract was signed without any preferential terms, the statement added.

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