Riyadh - Mubasher: Building and Construction Company Limited, a subsidiary of Retal Urban Development Company, signed a contract on 17 August at a value of SAR 267.98 million.

The agreement was reached with Rimal Park Fund, an associate company, to provide design and construction services for the Rimal Business Court project located in Al Khobar.

The contract has a total duration of 12 months from the effective date of the agreement. Its value excludes taxes and fees where applicable and was signed without any preferential terms or advantages.

Retal expects the project to have a positive financial impact on its results starting from the commencement of implementation. This impact is projected to be reflected during the fiscal years 2026 and 2027.

The company identified Mustafa Muhammad Tawfiq, the Chief Development Officer at Retal, as a related party in the transaction.

In the first half (H1) of 2026, the company logged net profit valued at SAR 42 million, lower by 68.726% year-on-year (YoY) than SAR 134.30 million.