Retal Urban Development Company announces the signing of a contract with Building Construction Company (subsidiary) to construct 4 residential buildings in the city of Khobar

Retal Urban Development Company announces the signing of a contract with Building Construction Company (subsidiary) to construct 4 residential buildings in the city of Khobar

Element List

Explanation

Introduction

Retal Urban Development Company announces signing construction agreement on 28/01/2024 AD with Building Construction Company (Subsidiary) to construct 4 residential buildings in the city of Khobar without any preferential conditions or benefits

Date of Announcement of the Award

2024-01-28 Corresponding to 1445-07-16

Contract Subject Matter

Construction of 4 residential buildings in Alsadafah district in Khobar City without any preferential conditions or benefits

The Entity with Which the Contract was Signed

Building Construction Company (subsidiary)

Date of Signing the Contract

2024-01-28 Corresponding to 1445-07-16

Contract Value

48 Million SAR (Not including taxes if applicable)

Contract Details

Construction of 4 residential buildings in Alsadafah district in Khobar City

Contract Duration

20 months from the effective date of the agreements

Financial Impact and the Relevant Period

The project is expected to have a positive impact on the company's results post the start of the project execution for the years 2024 and 2025

Related Parties

Member of the Board / Mr. Abdul Rahman Ibrahim Al-Jalal, and Member/ Mr.Abdullah Faisal Al-Braikan,CFO of Retal Urban Development Company/ Mr. Ammar Mohammed