“Retal” signs a contract to implement construction work on a project in Al -Khobar with 450 million riyals

Retal Urban Development Company announced today, the signing of the Rumal Al -Khobar Real Estate Company (a 50% joint venture for Retal), a contract with the Specialized Construction Company Limited (a joint venture owned by an indirect share of 40% for Retal Company).
The company said in a statement on Saudi Arabia’s circulation: The contract to implement construction works in the Rayez project and the Nobo hotel and restaurant in Al -Khobar with an estimated value of 450 million riyals, without any preferential benefits.
She added that the contract includes: The implementation of the electromechanical and finishing works in the Rayez and Nobo Hotel project, in addition to the Nobo Restaurant and Corporation in the Corniche City City, without any preferential benefits.
The period of the contract is 15 months from the date of the convention of the agreement, and it is expected that the project will have a positive impact on the company’s results after starting the implementation of the project for the two years 2025 m and 2026 m.