Saudi Arabia’s Retal Urban Development Company (Retal) has awarded a $64m contract to its subsidiary Building Construction Company. The contract covers constructing eight residential buildings in Roshn’s Sedra housing community in Riyadh. The contract duration is 26 months. In November last year, Saudi Arabia’s Public Investment Fund (PIF)-backed gigaproject developer Roshn signed a $100m  real estate development deal with Retal. The agreement covers the purchase of land and the development of 363 housing units in Sedra. The contract duration is three years. Retal was established in 2012 by the local Al Fozan Holding Company to develop real estate projects in the kingdom. Created in 2018, Roshn aims to increase homeownership rates among Saudi citizens to 7%. The company plans to develop more than 395,000 residential units in cities within Riyadh, Mecca, Asir and the Eastern Region. Roshn is developing the Sedra community in northeast Riyadh. It is masterplanned to include 30,000 homes across eight phases.     For registration as supplier in ROSHN: https://www.roshn.sa/en/opportunities#vendors   For more information about RETAL: https://retal.com.sa/contact/ (ICE RIYADH)

Fonte notizia: Meed