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RETAL

14 November, 2024 08:12

Retal Urban Development Co. announces the signing of a memorandum of understanding with Al Bilad Capital Co. to launch a closed real estate investment fund with an estimated value of 2 billion riyals in Riyadh

Element ListExplanation
Introduction On November 13, 2024, Retal Urban Development Co. signed a memorandum of understanding with Al Bilad Capital Co. to launch a closed real estate investment fund to develop and manage a multi-use project with an estimated value of 2 billion Saudi riyals. The project is located in the Qurtubah district of Riyadh on a land area of ​​192,000 square meters. The project aims to develop an integrated real estate destination that includes multi-use spaces that will be designed in the Salmani style and in accordance with the sports track code, which contributes to achieving the goals of the Kingdom's Vision 2030 to create a high quality of life by paying attention to environmental and modern urban aspects.
Memorandum Signing Date 2024-11-13 Corresponding to 1446-05-11
Counterparty Al Bilad Capital Co.
Memorandum Subject Retal signs a memorandum of understanding with Al Bilad Capital Co. to develop and manage a Mixed-Used Development project at Qurtubah, Riyadh
Memorandum Duration A memorandum of understanding is valid from signing and until completion or termination of negotiations by one party, whichever is earlier
Related Parties NA
Financial Impact NA
Additional Information NA

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