Retal’s mixed-use project spans 19,381 sqm
Retal Urban Development Co. signed on June 2 a development management agreement with Sakan Al Malqa Real Estate Co., an investment fund managed by SAB Invest, according to a statement to Tadawul. 
The fund aims to develop Retal Heights, a mixed-used project comprising residential and commercial units in Al Malqa district, Riyadh.
The land allocated for the project spans 19,381 square meters.
Retal estimates the project’s cost to total SAR 1.9 billion, and the developer’s around SAR 125.5 million.
Under the agreement, Retal, which owns a 24.52% stake in the fund, will act as the project’s exclusive development manager. It will oversee the design, development, execution, marketing, and sales phases, in addition to coordinating with the relevant authorities.
The contract term extends for 48 months from the scheduled start date.
The relevant financial impact is expected to span the implementation period from 2026 to 2029.
Retal’s mixed-use project spans 19,381 sqm
Retal Urban Development Co. signed on June 2 a development management agreement with Sakan Al Malqa Real Estate Co., an investment fund managed by SAB Invest, according to a statement to Tadawul.
The fund aims to develop Retal Heights, a mixed-used project comprising residential and commercial units in Al Malqa district, Riyadh.
The land allocated for the project spans 19,381 square meters.
Retal estimates the project’s cost to total SAR 1.9 billion, and the developer’s around SAR 125.5 million.
Under the agreement, Retal, which owns a 24.52% stake in the fund, will act as the project’s exclusive development manager. It will oversee the design, development, execution, marketing, and sales phases, in addition to coordinating with the relevant authorities.
The contract term extends for 48 months from the scheduled start date.
The relevant financial impact is expected to span the implementation period from 2026 to 2029.
