Saudi-based Retal Urban Development Company has announced that it had signed two conditional agreements with Roshn Group, a leading developer powered by Saudi wealth fund PIF, for the acquisition and development of 163 residential units within its AlManar community in Makkah city.

The agreements are valued at SAR124 million ($33 million), said Retal in its filing to Saudi bourse Tadawul.

As per the deal, the company plans to develop 163 residential units on the sites over a three-year period.

The project is expected to have a positive impact on its financial results during the development phase between 2027 and 2029, it added.-TradeArabia News Service