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Retal Urban Development Co. Announces Nesaj Al Sadan Residential Project in Jeddah

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1445/05/07     21/11/2023 08:27:54

Element ListExplanation
Introduction Retal Urban Development Company announces signing sub-development agreements on 20/11/2023 AD with the National Housing Company to develop 803 Residential Units in South Jeddah Project located in Jeddah with total land area of 209,482.36 square meters
Project Start Date From the next day post receiving the land from National Housing Company
Project Cost Total estimated cost SR 635 million
Financing method for the project The project will be financed through self financing, off-plan sales and Available facilities
Expected completion date of the project 42 months from the effective date of the agreement
Expected Impact on the Company’s Financial Results The project is expected to have a positive impact on the company's results post the start of sale and the project execution
Expected Date on Which the Impact on the Financial Results of the Company will Start It is expected that this Agreement will have a positive impact on the financial results for the years 2024G , 2025G, 2026G & 2027G
Expected Date for the Pilot Production of the Project to Begin N/A
Duration of the pilot production of the project N/A
Expected date for the commercial production of the project N/A
Executing Party/Counter Party in the Project/Contract National Housing Company
Related Parties N/A
Additional Information N/A

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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