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The Retal Urban Development Company has launched the Rimal Park Fund, a private real estate fund, to develop luxury projects in Al Khobar.
According to a stock exchange release, the Fund will invest in an impressive business complex as well as a residential and commercial complex on two neighboring land parcels totaling 54,503m2.
The Fund has an estimated cash and in-kind value of SR65 million
The Fund has an estimated cash and in-kind value of SR65 million, representing 33% of its equity, and will be managed over a five-year period by Blominvest Company.
Retal will be the project developer and marketing manager.