Retal awards contract for Riyadh residential buildings
RIYADH, 16 days ago
Saudi-based Retal Urban Development Company has awarded a contract worth SAR240 million ($64 million) to its key subsidiary Building Construction Company (BCC) for the construction of eight residential buildings in Sedra district in Riyadh City, without any preferential conditions or benefits.
As per the deal, the BCC will complete the entire construction work within 26 months from the effective date of the contract, writes a TradeArabia staff reporter citing a Retal filing to Saudi bourse Tadawul.
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, 2025 and 2026, it stated.
Established in Khobar region of Saudi Arabia, BCC is one of the largest heavy civil contractors in the kingdom offering services in terms of buildings construction, renovations and infrastructure.
This BCC contract award comes close on the heels of its recent win from Retal for 352 residential units in the Sadayem Suburb of Jeddah.
The Sadayem project will come up over a 100,959 sq m area in the Saudi port city.-TradeArabia News Service
