PROJECTS: Saudi-listed Retal awards $259mln contract for 901 villas in Jubail City

About this update from Retal Urban Development Company

Staff WriterRetal Urban Development said it has signed a contract with Building Construction Ltd. (BCC), an 80 percent owned subsidiary, to develop 901 villas for a project owned by Jubail and Yanbu Industrial Cities Services Co. (JABEEN) in Jubail City.The contract is valued at 972 million Saudi riyals ($259.15 million), the company said in a statement to the Saudi stock exchange.The project work has to be completed within 27 months.The contract is expected to have a positive impact on the company’s financial results over 2025–2027, the statement said.JABEEN is the investment arm of the Royal Commission for Jubail and Yanbu.(Writing by P Deol; Editing by Anoop Menon)([email protected])Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

View stock analysis, news, and events for Retal Urban Development Company