Latest news with #AlAziziyah
Zawya
22-05-2025
- Business
- Zawya
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) (
Argaam
22-05-2025
- Business
- Argaam
Retal signs deal to develop residential units worth SAR 1.4B
Retal Urban Development Co. has signed a sub-development agreement with the National Housing Co. to develop 995 residential units in Al-Aziziyah district, Al-Khobar, at an estimated total value of SAR 1.418 billion, excluding taxes and fees, if any. The contract duration is 42 months from the commencement date of the agreement. The relevant financial impact will likely reflect on the company's results over the project execution term (2025-2028). There are no related parties involved in the agreement, the statement added.
Arab News
12-05-2025
- Business
- Arab News
US company joins major infrastructure project in Makkah
JEDDAH: US-based investment firm Burlington Capital has joined the Al-Bushra Infrastructure Development Fund as a strategic partner, marking a new chapter in economic cooperation between the US and Saudi Arabia. The fund, which is privately managed and closed-ended, aims to develop more than 734,000 sq. meters of land in the Al-Aziziyah district of Makkah. The involvement of Burlington Capital, headquartered in Nebraska and led by CEO Lisa Yanney Roskens, is part of a broader trend of foreign investment into the Kingdom's infrastructure and real estate sectors. The firm has previously managed more than $4 billion in assets across US real estate and international agriculture. The Al-Bushra fund is aligned with Saudi Arabia's Vision 2030 strategy, which seeks to diversify the national economy and reduce reliance on oil revenues. The fund's objective is to convert raw land into serviced plots to support urban growth and encourage private sector activity. Dr. Abdulaziz Sager, a board member of the fund and a prominent figure in regional development policy, is leading the project. His role includes guiding the fund's strategic direction and overseeing its implementation. The announcement reflects a growing interest from international firms in participating in long-term infrastructure projects within the Kingdom. Burlington Capital was established in 1984 and has previously focused on a range of investments across both public and private sectors. Its entry into the Saudi market represents an extension of its international operations.
