Retal Subsidiary Secures Contract for Al Khobar Project

Saudi Arabia's Retal Urban Development announced that its 80%-owned subsidiary, Building and Construction Company, has signed a SAR268 million ($71.5 million) contract with Remal Park Fund. The contract involves the design and construction works for the Remal Business Court project in Al Khobar.

The contract is set for a duration of 12 months from its effective date, as stated in a filing on the Saudi bourse Tadawul. Retal anticipates that the project will positively impact its financial results during 2026 and 2027 after construction commences.

For a developer: This project highlights the ongoing opportunities in Saudi Arabia's construction sector, particularly in Al Khobar, a region known for its business and economic activities. Such contracts can be significant for investors looking to capitalize on the growing demand for commercial infrastructure in the area.