Latest news with #RetalUrbanDevelopmentCompany
Trade Arabia
18-03-2025
- Business
- Trade Arabia
Retal awards contract to build 371 residences in Riyadh
Saudi-based Retal Urban Development Company has announced that it has awarded a SAR493 million ($131 million) contract to one of its key subsidiaries, Building Construction Company, for a major project in capital Riyadh. As per the deal, Building Construction Company will be responsible for the construction of 371 residential units and other project infrastructure works at its Sidra development in Riyadh city, said Retal in its filing to Saudi bourse Tadawul. The entire work will be completed within a 30-month period, it added. On the financial impact, Retal said the project is expected to have a positive impact on the company's results post the start of the project execution for 2025, 2026 & 2027. This is the second big win for Building Construction Company this year as in January it had clinched a contract from Retal to build 285 residential units in Murcia zone, Khozam suburb in Riyadh.-
Zawya
17-03-2025
- Business
- Zawya
Retal unit awards Saudi's Al Khobar City mixed-use project contracts
Saudi-based Retal Urban Development Company has announced that one of its key ventures Remal Al Khobar Real Estate Company has awarded a construction contract worth SAR450 million ($120 million) for its Retal Rise and Nobu Hotel projects in Al Khobar City. A major project in the kingdom's Eastern Province, Retal Rise features 129 residential units, while the Nobu Hotel consists of 101 rooms and 62 residential units managed by Nobu, in addition to the Nobu Restaurant and Café. All these projects are located in a unique location in the city of Al Khobar, overlooking the Corniche. Remal Al Khobar, a joint venture 50% owned by Retal Urban Development Company, has signed up Specialized Construction Company for the project. Its scope of work includes implementation of MEP works for Retal Rise and Nobu hotel in addition to Nobu restaurant and café in Al Khobar City. The entire work will be completed within a 15-month period from the effective date of the agreement. On the financial impact, Retal said the project is expected to have a positive impact on the company's results post the start of the project execution for 2025 & 2026.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
16-03-2025
- Business
- Trade Arabia
Retal unit awards Al Khobar City mixed-use project contracts
Saudi-based Retal Urban Development Company has announced that one of its key ventures Remal Al Khobar Real Estate Company has awarded a construction contract worth SAR450 million ($120 million) for its Retal Rise and Nobu Hotel projects in Al Khobar City. A major project in the kingdom's Eastern Province, Retal Rise features 129 residential units, while the Nobu Hotel consists of 101 rooms and 62 residential units managed by Nobu, in addition to the Nobu Restaurant and Café. All these projects are located in a unique location in the city of Al Khobar, overlooking the Corniche. Remal Al Khobar, a joint venture 50% owned by Retal Urban Development Company, has signed up Specialized Construction Company for the project. Its scope of work includes implementation of MEP works for Retal Rise and Nobu hotel in addition to Nobu restaurant and café in Al Khobar City, said Retal in its filing to Saudi bourse Tadawul. The entire work will be completed within a 15-month period from the effective date of the agreement, it stated.
Trade Arabia
13-03-2025
- Business
- Trade Arabia
Retal unit to implement Remal Business Court structure
Retal Urban Development Company has announced that its subsidiary Building and Construction Company has signed a contract with Remal Park Fund to implement the skeleton structure works for the Remal Business Court project in Al Khobar city. The estimated value of the contract is SAR166 million ($44.22 million), without any preferential is 33.33% owned associate of Retal Urban Development Company, the company said in a Saudi Stock Exchange filing. The duration of the contract is 12 months from the effective date of the agreement. The project is expected to have a positive impact on the company's results post the start of the project execution in 2025 and 2026, the company said. - TradeArabia News Service
Zawya
03-03-2025
- Business
- Zawya
Retal's sales hit $533mln in 2024; dividends for H2 unveiled
Riyadh – Retal Urban Development Company logged net profits after tax valued at SAR 266.12 million in 2024, an annual rise of 31.51% from SAR 202.35 million. Sales hiked by 50.92% year-on-year (YoY) to SAR 2.06 billion at the end of December 2024 from SAR 1.36 billion, according to the financial results. The earnings per share (EPS) increased to SAR 0.53 at the end of December 2024 from SAR 0.40 in 2023. Cash Dividends for H2-24 The board members approved cash dividends amounting to SAR 55 million, representing 11% of the capital, for the second half (H2) of 2024. A dividend of SAR 0.11 per share will be distributed for 500 million eligible shares. Retal noted that the eligibility and payment dates will be 4 and 15 May 2025, respectively. In December 2024, the Tadawul-listed group inked a SAR 349 million deal with its subsidiary Building Construction Company Limited. Source: Mubasher
