Retal studies new projects worth SAR 15B: CFO
Retal Urban Development Co. is currently studying projects valued at SAR 15 billion and is working to accelerate their conversion into actual projects within its portfolio, said CFO Ammar Al-Ghoul.
In an exclusive interview on the sidelines of the Argaam Summit held last week in Riyadh, he added that a large percentage of these projects are being carried out in collaboration with real estate development funds. This allows the company to take advantage of such development services and cross-selling through its affiliated ecosystem, which includes project management, design, and real estate services.
The company's projects are distributed as follows: 53% in the Central Region in Riyadh, 40% in the Eastern Province, and the remaining portion in the Western Province, he added.
Al-Ghoul noted that Retal delivered strong financial performance in Q1 2025, driven by higher project completion rates and contractual sales of about SAR 1 billion, which is equivalent to one-third of 2024's entire contractual sales of SAR 3 billion.
Retal's real estate portfolio is divided into direct development and development through real estate investment funds. The direct development portfolio is valued at about SAR 17.5 billion and includes about 9,200 housing units, while the REITs portfolio is estimated at SAR 13 billion. The company sold about 70% of the units within the direct development portfolio, with varying completion rates depending on the project, said the top executive.
Regarding the impact of the decision to impose fees on idle land, Al-Ghoul stressed that the decision came at the right time, adding that it will encourage the utilization of idle land within urban boundaries. Thus, it will boost market supply, achieve balance in prices, and open new opportunities for developers like Retal to offer affordable housing products that have a positive impact on sales.
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