Saudi-listed Retal to build 995 residential units in Al-Khobar
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) (anoop.menon@lseg.com)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
8 minutes ago
- Zawya
UAE: Crown Prince of Abu Dhabi approves $1.26bln housing benefits package for citizens ahead of Eid Al Adha
Under the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, in his capacity as Ruler of Abu Dhabi, H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has approved a housing benefits package worth AED4.62 billion, benefiting 3,052 Emirati citizens across the emirate. The approved housing benefits package includes housing loans amounting to AED4.4 billion benefiting 2,862 citizens, and exemptions from housing loan repayments totalling AED212 million benefiting 190 citizens, limited-income retirees and beneficiaries of deceased citizens. The disbursement of the second housing package of 2025 comes ahead of Eid Al Adha and reflects the leadership's ongoing commitment to comprehensive development, enhancing the wellbeing and stability of Emirati families, empowering them to actively contribute to the nation's progress, in line with UAE Year of Community objectives aimed at strengthening social cohesion and reinforcing community solidarity. This package brings the total housing benefits delivered to citizens in Abu Dhabi in 2025 to AED11.38 billion. Mohamed Ali Al Shorafa, Chairman of the Board of Directors of Abu Dhabi Housing Authority, said, 'The new housing benefits package reflects the leadership's commitment to empowering citizens through the provision of quality housing that promotes family stability and elevates quality of life. On this occasion, we extend our heartfelt gratitude to President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and to H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, for their enduring support to advance the housing sector and foster a thriving and cohesive society.' Hamad Hareb Al Muhairi, Director-General of Abu Dhabi Housing Authority, said, 'The second housing package of 2025 highlights the depth of our leadership's strategic vision to build a prosperous future, enhancing quality of life and providing sustainable housing solutions that meet Emirati citizens' needs and aspirations. 'The generous support from President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, reaffirms the leadership's steadfast commitment to fostering social and family stability and ensuring a fulfilling life for Emirati families.' The housing benefits package follows the recent endorsement of an additional community support subsidy of AED250,000 for existing beneficiaries of housing loans, including a reduction of up to 50 per cent in monthly loan instalments, and a wide range of other services and facilities.
Khaleej Times
17 minutes ago
- Khaleej Times
Abu Dhabi grants Dh4.4-billion worth housing loans to citizens, waives debts
Abu Dhabi's Crown Prince approved a Dh4.62 billion-worth housing benefits package for citizens on June 5, a day before faithful across the country celebrate Eid Al Adha. Under the move, 3,052 citizens will benefit from the package, which includes housing loans and exempting certain categories of citizens from repaying housing loans. The housing loans — worth Dh4.4 billion — will benefit 2,862 citizens. Meanwhile, 190 citizens, which include retirees and beneficiaries of deceased citizens, will be exempted from repaying loans worth Dh212 million. The initiative, approved by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, comes under the directive of UAE President, Sheikh Mohamed, in his capacity as Ruler of Abu Dhabi. The disbursement of the second housing package of 2025 comes ahead of Eid Al Adha and reflects the leadership's ongoing commitment to comprehensive development, enhancing the wellbeing and stability of Emirati families and empowering them to actively contribute to the nation's progress. This package brings the total housing benefits delivered to citizens in Abu Dhabi in 2025 to Dh11.38 billion. The housing benefits package follows the recent endorsement of an additional community support subsidy of Dh250,000 for existing beneficiaries of housing loans, including a reduction of up to 50 per cent in monthly loan instalments, and a wide range of other services and facilities.
Zawya
an hour ago
- Zawya
ABB Saudi Arabia and the SSEWN launch 'ABB Saudi Arabia Women's Mentorship Program 2025'
Empowering Saudi female talent through cross-cultural collaboration and professional development Riyadh, saudi arabia – ABB Saudi Arabia is pleased to announce the launch of its '2025 Women's Mentorship Program', developed in partnership with the Saudi-Swedish Executive Women's Network (SSEWN). This pioneering initiative reinforces ABB Saudi Arabia's commitment to empowering Saudi female talents through cross-cultural collaboration within the Kingdom and beyond. The program is a structured initiative designed to accelerate the professional career growth of ABB Saudi Arabi's female employees by connecting them with experienced mentors from both, the Kingdom of Saudi Arabia and Sweden. Through monthly one-on-one virtual sessions, group mentoring, shadowing opportunities, and real-world business challenges, mentees will gain leadership insights, strategic guidance, and career development support. Targeting both early-career professionals and high-potential Saudi female employees at ABB Saudi Arabia, the mentorship initiative aims to strengthen leadership pipelines and support Saudi Arabia's Vision 2030 goals for increasing Saudi female participation in the workforce. ' This mentorship program reflects ABB Saudi Arabia's belief in the power of collaboration and shared success,' said Ali Al-Koud, Country HR Manager, ABB Saudi Arabia. ' By empowering our Saudi female talents and facilitating knowledge exchange with our Swedish partners, we are not only investing in individual careers—but also in the future of industry and innovation in the Kingdom.' ' We are proud to partner with ABB Saudi Arabia on this impactful initiative. It is a true model for global cooperation and women's empowerment, ' said Katie Hagström, Director of the Saudi-Swedish Executive Women's Network, and Mentorship Program Lead. ' By linking talented Saudi women with experienced professionals from the Kingdom and Sweden, we are building bridges of opportunity, knowledge, and mutual growth. ' The program structure includes regular virtual mentorship sessions, cross-cultural networking, and a graduation ceremony recognizing outstanding achievements. Participating mentors will guide mentees through personalized development journeys, providing both strategic counsel and practical experience. As a recognized technology leader in electrification and automation, ABB Saudi Arabia continues to reinforce its reputation as an employer of choice for women. This program stands as a tangible expression of ABB's values—Courage, Care, Curiosity, and Collaboration—and a powerful step toward a more inclusive and diverse industrial future. The Saudi-Swedish Executive Women's Network is a professional network for women in Saudi Arabia and Sweden. The network exists to strengthen the commerce and communal ties between the Kingdoms of Saudi Arabia and Sweden, with a focus on promoting women in entrepreneurship, board governance, and stakeholder engagement in their respective business communities and in the global market. It achieves its network mission by building direct relationships between individuals. -Ends- About ABB ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. By connecting its engineering and digitalization expertise, ABB helps industries run at high performance, while becoming more efficient, productive and sustainable so they outperform. At ABB, we call this 'Engineered to Outrun'. The company has over 140 years of history and around 110,000 employees worldwide. ABB's shares are listed on the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm (ABB). ABB Saudi Arabia / Corporate Communications: Mohammad Al-Ahmad Country Communications Manager (KSA, UAE, Qatar & Jordan) SA-ABB_KSA_Communications@
