Retal clinches NHC contract to develop 4,839 units at SAR 5.2B

Retal Urban Development Co. was awarded on Nov. 17 a SAR 5.2 billion project by the National Housing Co. (NHC) to develop 4,839 residential units (villas/apartments) in Al Fursan Suburb, Third Area, Riyadh.

The project spans a land area of approximately one million square meters, according to a statement to Tadawul.

The project scope of work includes the design, marketing, financing, construction, completion, and delivery of residential units in villa and building zones, as well as the execution and operation of the project's commercial components, and the implementation of internal infrastructure within the project’s main master plan.

No related parties were involved, the statement said, adding that any material developments in this regard will be announced.