Saudi company Retal Urban Development has said that its joint company, Remal Al Khobar Real Estate, has given a big contract for a new project in Al Khobar City. The contract is worth SAR 450 million ($120 million) and is for building work on Retal Rise and Nobu Hotel. The contract has been given to Specialized Construction Company, which will take care of electrical, plumbing, and mechanical work.
The Retal Rise and Nobu Hotel projects are in a special place in Al Khobar, near the Corniche. Retal Rise will have 129 modern homes, while the Nobu Hotel will have 101 hotel rooms and 62 serviced apartments. Nobu, a well-known luxury brand, will manage the hotel. The project will also have a Nobu Restaurant and Café, offering fine dining.
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Specialized Construction Company will complete all the technical work, making sure everything is done properly. The full project will be finished in 15 months from the time the contract starts.
Retal Urban Development owns half of Remal Al Khobar and believes this project will help its business grow. The company said that this project will bring good results in 2025 and 2026. With this new development, Al Khobar City is becoming a major place for high-end living and tourism.
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