Riyadh - Mubasher: Retal Urban Development Company has entered into two conditional agreements with ROSHN Group, a subsidiary of the Public Investment Fund (PIF), to acquire and develop residential land within the Al Manar Community in Makkah.

The transaction, valued at SAR 123.83 million, marks a significant collaboration between the Tadawul-listed developer and the national real estate giant.

Under the terms of the agreement, Retal will be responsible for the development of 163 residential units, further expanding its footprint in the Kingdom’s holy city.

The contractual arrangement, which was finalized on 1 July 2026, involves the purchase of land plots specifically designated for residential use.

According to the regulatory filing on the Saudi Exchange, the project is situated within the Al Manar Community, one of the integrated neighborhoods being developed by ROSHN.

This partnership aligns with the broader national strategy to increase homeownership and enhance the quality of urban living through high-standard residential offerings.

The scope of the project encompasses the design and construction of 163 residential units. Retal has outlined a 36-month timeline for the completion of the development phase.

This duration reflects the comprehensive nature of the project, including infrastructure integration and the delivery of finished housing units that meet the specifications set forth by ROSHN Group.

Regarding the financial implications of the deal, Retal anticipates a positive impact on its financial results over the next several years. The company expects the revenue and profit recognition from this project to be reflected in its financial statements during the fiscal years 2027, 2028, and 2029.

This multi-year realization of income is consistent with the standard accounting practices for long-term real estate development projects, where financial impact is distributed across the construction and delivery milestones.

The disclosure confirmed that there are no related parties involved in this transaction, ensuring that the agreements were conducted on an arm's length basis. This transparency is a key requirement for listed entities on the Tadawul to maintain market integrity and shareholder confidence.

Retal has directed interested parties and investors to its Investor Relations department for further inquiries. The company remains committed to its growth strategy of partnering with major institutional entities like ROSHN to deliver large-scale housing solutions across the Kingdom.

In October 2025, the two parties inked a SAR 461.90 million for a residential project within the SEDRA community in Riyadh.