Riyadh – Mubasher: Retal Urban Development Company inked a contract with Wajha Alpha for Investment Company, a real estate development fund managed by Alpha Capital, on 7 December 2022.

The 30-month agreement covers the establishment, marketing, and selling of 386 housing units in Tharwa Town, which is located between Al khobar and Dammam in the Eastern Region.

Meanwhile, the project will be implemented on a total area of 142,433 square metres, according to a bourse filing.

Retal expected SAR 64.28 million worth of gains from the deal, which will reflect positively on its financial results during the period from 2023 to 2025.

Last October, Retal sealed a SAR 605 million agreement with the National Housing Company (NHC) to carry out 550 housing units in Al Fursan district 2 in Riyadh.