Latest news with #RetalUrbanDevelopment
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.
Zawya
19-05-2025
- Business
- Zawya
Mideast Stocks: Most Gulf stocks inch lower as global sentiment sours
Most Gulf stocks were trading lower early on Monday as Asian shares fell and oil prices weakened, while investor sentiment was rattled by mixed economic data from China and a downgrade of the U.S. credit rating. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.8%, while Wall Street share futures slipped as concerns over unpredictable U.S. economic policies were amplified by Moody's downgrade of the country's credit rating. Meanwhile in China, official data showed growth in industrial output slowed in April, though still fared better than economists had expected. The downgrade and mixed data also weighed on oil prices with front-month Brent crude futures falling 0.8% by 0630 GMT. Saudi Arabia's benchmark stock index fell 0.2%, weighed by a near 3% drop in construction firm Retal Urban Development Company SJSC. Among gainers on the index, insurance firm Allied Cooperative Insurance Group surged 14.65% after it announced a announced a 1 for 0.72 rights issue. Meanwhile, Abu Dhabi's benchmark index was down 0.12% and Kuwait's benchmark index fell 0.21%. Bucking the trend, Dubai's main share index rose 0.45% supported by a 5.26% rise in public parking spaces provider Parkin Company.
Reuters
19-05-2025
- Business
- Reuters
Most Gulf stocks inch lower as global sentiment sours
May 19 (Reuters) - Most Gulf stocks were trading lower early on Monday as Asian shares fell and oil prices weakened, while investor sentiment was rattled by mixed economic data from China and a downgrade of the U.S. credit rating. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab was down 0.8%, while Wall Street share futures slipped as concerns over unpredictable U.S. economic policies were amplified by Moody's downgrade of the country's credit rating. Meanwhile in China, official data showed growth in industrial output slowed in April, though still fared better than economists had expected. The downgrade and mixed data also weighed on oil prices with front-month Brent crude futures falling 0.8% by 0630 GMT. Saudi Arabia's benchmark stock index (.TASI), opens new tab fell 0.2%, weighed by a near 3% drop in construction firm Retal Urban Development Company SJSC ( opens new tab. Among gainers on the index, insurance firm Allied Cooperative Insurance Group ( opens new tab surged 14.65% after it announced a announced a 1 for 0.72 rights issue. Meanwhile, Abu Dhabi's benchmark index (.FTFADGI), opens new tab was down 0.12% and Kuwait's benchmark index (.BKP), opens new tab fell 0.21%. Bucking the trend, Dubai's main share index (.DFMGI), opens new tab rose 0.45% supported by a 5.26% rise in public parking spaces provider Parkin Company ( opens new tab.
Argaam
12-05-2025
- Business
- Argaam
Retal's portfolio hits SAR 31B, 50% of projects in Riyadh: CFO
Retal Urban Development Co. 's portfolio is valued at SAR 31 billion, including SAR 13 billion in real estate developments among which is a divestment that was carried out in Q4 2024, in addition to SAR 18 billion in direct development, said CFO Ammar Al-Ghoul. The company's projects are distributed as follows: 50% in the Riyadh Region, 40% in the Eastern Province, and 10% in the Western Province, he added, in an interview with Al Arabiya TV. Al-Ghoul also pointed out that about 90% of the company's projects are within fully integrated urban development zones, adding that the company's sales reached SAR 1 billion in Q1 2025, compared to nearly SAR 3 billion in the entire of 2024. The company does not own undeveloped land, as all land is designated for contracted projects, said the official, highlighting that Retal aims to expand into integrated and mixed-use residential development in the future. He also stated that more than 800 housing units were delivered in 2024, with over 1,800 units targeted to be handed over in 2025. Meanwhile, around 65% of the total project portfolio has already been sold out, with the remaining portion in progress and pending delivery. As for interest rates, Al-Ghoul stated that despite high interest rates, the company's debt remains very balanced, with a net debt-to-equity ratio between 1.1-1.28, which is considered a very acceptable average in the sector.
