IssuerAnnouncementDetailsV2Portlet
Retal Urban Development Co. Announces Nesaj Al Sadan Residential Project in Jeddah
| Element List | Explanation |
|---|---|
| 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 |
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