{"id":95396,"date":"2025-03-18T00:00:00","date_gmt":"2025-03-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/18\/retal-signs-sar-493-mn-housing-contract-in-riyadh\/"},"modified":"2025-03-18T00:00:00","modified_gmt":"2025-03-18T00:00:00","slug":"retal-signs-sar-493-mn-housing-contract-in-riyadh","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/18\/retal-signs-sar-493-mn-housing-contract-in-riyadh\/","title":{"rendered":"Retal signs SAR 493 mn housing contract in Riyadh"},"content":{"rendered":"

\n

REAL ESTATE-<\/p>\n

Retal inks SAR 493 mn housing contract:<\/strong> Retal Urban Development<\/a> signed a SAR 493 mn, 30-month contract with its 80%-owned subsidiary Building Construction Company<\/a> to build 371 residential units and develop infrastructure in Riyadh\u2019s Sidra district, according to a disclosure to Tadawul<\/a>.<\/p>\n

ICYMI- <\/strong>Remal Al Khobar Real Estate, a JV 50% owned by Retal Urban Development, signed a SAR 450 mn<\/a> contract on Sunday with Specialized Construction Company<\/a>, a 40%-owned JV of Retal. The 15-month contract covers finishing and MEP works for Retal Rise and Nobu Hotel and Restaurant in Al Khobar.<\/p>\n

\n

M&A WATCH-<\/p>\n

Almarai<\/strong> terminated its <\/strong>indirect<\/strong> acquisition of Jordan\u2019s Hammoudeh Food Industries<\/strong> as \u201cthe seller was not able to meet certain conditions precedent,\u201d it said in a disclosure to Tadawul<\/a>. The company said it remains open to future expansion plans to strengthen its regional presence.<\/p>\n

BACKGROUND-<\/strong> Almarai\u2019s subsidiary Teeba Investment for Developed Food Processing inked an agreement in October 2024<\/a> totake over the Jordan-based dairy producer Hammoudeh Food Industries for SAR 263 mn.<\/p>\n

\n

LOGISTICS-<\/p>\n

Aramco\u2019s Abqaiq oil facility to undergo engineering work:<\/strong> Aramco inked a SAR 257.5 mn contract with Kuwait\u2019s Heavy Engineering Industries and Ship-building Company (HEISCO) for civil and mechanical work at Abqaiq oil facility, according to a statement<\/a> on Boursa Kuwait. The project \u2014 which aims to enhance production efficiency \u2014 is set to be completed within 865 days.<\/p>\n

The players: <\/strong>The Kingdom\u2019s branch of Engineering for the Petroleum & Process Industries Company is the main contractor for the project, while Kuwait\u2019s HEISCO will handle the civil and mechanical works for the later-scope stage of the project, the statement adds. <\/p>\n

\n

FINTECH-<\/p>\n

Glo<\/strong>bal pa<\/strong>yment services p<\/strong>rovider <\/strong>Checkout.com<\/a><\/strong> will integrate <\/strong>Tabby<\/a><\/strong>\u2019s BNPL technology <\/strong>into its digital payments solutions <\/strong>under a partnership between the two firms, it said in a post on LinkedIn<\/a>. The move aims to provide merchants with advanced tools to meet the growing demand for seamless and flexible payment options.<\/p>\n

REMEMBER- <\/strong>Tabby is planning to IPO<\/a> during this year or the next, but is yet to specify whether it will list on Tadawul\u2019s main market or Nomu and the size of the stake it plans to take to market. The BNPL platform is also looking to relocate its HQ to the Kingdom from the UAE ahead of the IPO.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: Saudi Power Transformers wins SAR 129.4 mn supply contract<\/p>\n","protected":false},"author":1,"featured_media":95397,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2564],"tags":[54,10,712,4113,725,3601],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95396","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-enterpriseam-ksa","tag-retal-urban-development","tag-saudi-power-transformers-company","tag-tabby","tag-united-international-transportation-company-budget-saudi","wpautop","entry"],"acf":{"mongo_id":"531b04a6-34f3-4340-922c-ef0c181ac961","order":"12","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/1392.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Retal signs SAR 493 mn housing contract in Riyadh","related_issue":[95374],"teaser":"PLUS: Saudi Power Transformers wins SAR 129.4 mn supply contract","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.f3f95e66-4612-4790-96e1-7474cbb32154.mp3"},"yoast_head":"\nRetal signs SAR 493 mn housing contract in Riyadh - 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