Retal signs SAR 972M contract with subsidiary to build 901 housing units in Jubail

Retal Urban Development Co. signed, on Nov. 6, a contract with Building Construction Co. (BCC) to develop 901 residential units (villas) for a project owned by Jubail and Yanbu Industrial Cities Services Co. (JABEEN) in Jubail City, at a total value of SAR 972 million, excluding VAT.

BCC is 80% owned by Retal.

The contract duration is 27 months, and is expected to have a positive impact on the company’s financial results over the implementation period, spanning 2025–2027, the company said in a statement to Tadawul.