Retal signed an agreement with ROSHN, a company wholly owned by the Public Investment Fund, to purchase lands for the purpose of developing 363 residential units of various sizes and designs in the Sedra residential neighborhood in Riyadh, with an estimated value of up to 375 million Saudi riyals.
Engineer Abdullah Al-Braikan, CEO of Retal, commented on the conclusion of the agreement, saying: “This partnership is an extension of our previous partnerships and collaborations with ROSHN, as Retal is currently working on developing more than 1,000 residential units within the masterplan for the Sedra neighborhood.”
Al-Braikan also explained that Retal and ROSHN are striving together to achieve a common goal that meets the aspirations of urban development within the “Vision 2030” approach, which focuses on establishing residential communities that aim to achieve the highest quality of life requirements.
Likewise, the company additionally highlighted the positive impact this project has had on the market share of Retal in Riyadh.