Retal Urban Development Company has signed a sub-development agreement with the state-run National Housing Company to develop 995 residential units in Al-Aziziyah district, Al-Khobar.

The estimated development value is 1.41 billion Saudi riyals ($373.21 million), the company said in a statement to the Saudi stock exchange on Thursday.

The contract duration is 42 months from the commencement date of the agreement.

The project will have a positive impact on the company’s results from 2025 to 2028, the statement said.

(Editing by Anoop Menon) ([email protected])

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