Retal Urban Development Company, Saudi Arabia announces the signing of a sub-development agreement with the National Housing Company.

The agreement is to develop 759 housing units in Al-Fursan district 1 in Riyadh with total land area of 227,837 square meters, the Company stated in a statement to Tadawul.

Total estimated cost of the agreement is SR 864 million and the project will be financed based on self-financing and off-plan sales.

According to the developer, the project is expected to have a positive impact on the company’s results post the start of sale and the project execution. The duration of the project is 42 months.