Retal Secures Contract For Riyadh Housing Development

Dubai (PlantAndEquipment.com) - Retal Urban Development Company, a subsidiary of Al Fozan Holding Company, has won a letter of award from the National Housing Company (NHC) for the construction of 4,839 residential units in the third phase of Riyadh's Al Fursan neighborhood. 

The project covers around one million square meters and will include a mix of villas and multi-unit residential complexes.

In its Tadawul stock exchange filing, the business noted that the deal includes project design, marketing, finance, building, and final delivery of the residential units. It also comprises the creation and operation of commercial components inside the project area, as well as the implementation of internal infrastructure in accordance with the master plan.