Real Urban Development Company has announced that it has given a SAR374 million ($100 million) contract to its subsidiary, Building Construction Company, to build a large project in Riyadh, Saudi Arabia.
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The project will include 285 new homes in the Murcia area of the Khozam neighborhood in Riyadh. Retal said that the Building Construction Company will handle all the construction work for these homes.
The money for this project will come from funds the company already has, and also from sales of homes that have not yet been built. This plan will make sure the project stays financially secure.
Rental believes this project will have a positive impact on the company’s results when construction starts, expected to begin between 2025 and 2027. The entire project is set to be completed in 30 months.
In short, Retal’s plan to build more homes in Riyadh will help provide more housing and contribute to the growth of the city.
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