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Retal Urban Development has formalized a development agreement with the National Housing Company to advance a significant residential project in Riyadh. The deal, valued at SAR 5.2 billion, will cover the construction of 4,839 residential units, reflecting ongoing efforts to meet the city's growing housing demand. The agreement highlights a continued partnership between private developers and government entities to enhance residential infrastructure. This initiative follows Retal's previous urban development projects and aligns with broader national plans to expand housing availability and support urban growth in Saudi Arabia.
Retal Urban Development has signed a development agreement with the National Housing Company to undertake a major residential project in Riyadh. The project, with a total investment of SAR 5.2 billion, is set to deliver 4,839 residential units. This agreement strengthens the collaboration between Retal and the National Housing Company, aiming to address the city's expanding housing requirements. Advertisement
The residential development is part of broader initiatives in Riyadh to enhance urban infrastructure and accommodate the increasing demand for quality housing. Retal has a history of completing urban projects across Saudi Arabia, and this new agreement adds to its portfolio of large-scale developments. By combining private sector expertise with government-backed planning, the project is expected to progress efficiently while adhering to national housing objectives.
This development is anticipated to boost local employment during construction and provide a substantial number of residential units to meet the needs of Riyadh's growing population. It also reflects ongoing trends in Saudi Arabia where partnerships between private developers and public housing authorities are shaping the residential real estate sector.
Source Reuters
5th Jun, 2025
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