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Retal Urban Development Co. — Capital/Financing Update 2022
Dec 8, 2022
53436_rns_2022-12-08_b7b14113-a2d9-4b3e-bd0f-b52120e43012.html
Capital/Financing Update
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Retal Urban Development Co. Announces Contract Sign Off with Wajha Alpha for Investment Co
4322 · 08/12/2022 08:02:21 · Announcement #71281 · View on Saudi Exchange
Retal Urban Development Co. Announces Contract Sign Off with Wajha Alpha for Investment Co
| Element List | Explanation |
|---|---|
| Introduction | Retal Urban Development Company signed a Development Agreement with Wajha Alpha for Investment Co., a special purpose vehicle owned by a real estate development fund managed by Alpha Capital for the purpose of development , marketing and selling residential community located at Tharwa Town between Al-khobar and Dammam cities in the Eastern Region. |
| Date of Announcement of the Award | 2022-12-07 Corresponding to 1444-05-13 |
| Contract Subject Matter | Development, marketing and sales agreement. |
| Date of Signing the Contract | 2022-12-07 Corresponding to 1444-05-13 |
| Contract Value | The total expected Proceeds from the Agreement is 64,289,648 SAR |
| Contract Details | Total No. of units = 386. |
Aggregate Land Area = 142,433 m2.
Location : Tharwa Town, Dammam Contract Duration 30 months Financial Impact and the Relevant Period It is expected that this Agreement will have a positive impact on the financial results for the years 2023G , 2024G and 2025G Related Parties There is an indirect interest for: Chairman of the Board Mr. Abdullah Abdullatif Al Fozan, Vice-Chairman of the Board Mr. Ali Abdullatif Al Fozan, Board member Mr. Fozan Mohammed Al Fozan and Executive committee member Mr. Abdullatif Ali Al Fozan Additional Information None
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.