Retal inks deal with Roshn for 554-unit residential project
DUBAI, December 15, 2022
Saudi-based Retal Urban Development Company has announced that it has signed two agreements with leading real estate group Roshn for the development of a total of 554 residential units at its landmark project, Sedra, located in northern Riyadh.
The pact with Roshn, a unit of Saudi sovereign wealth fund PIF (Public Investment Fund), will see
residential villas and apartments being built within Sedra at a total investment of SR357 million ($95 million), said Retal in its filing to the Saudi bourse Tadawul.
The project will come up on a total area of 96,913 sq m within Sedra, it added.
Retal said as per the first agreement, the project will get completed within two years, while for the second project it will take three years.
These agreements will have a positive impact on the financial results for the 2023-25 period, it added.-TradeArabia News Service
