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Roshn Group, Saudi Arabia’s leading multi-asset real estate developer and a PIF company, has announced new agreements worth SAR 1.5 bln (USD 400 mln) for construction, infrastructure, and retail development at Sedra Community, the group’s largest integrated project in Riyadh, according to the Saudi Press Agency.
The agreements were signed with several national and international contracting firms investing in the local market.
The first agreement, valued at SAR 650 mln (USD 173 mln), will fund the development of over 900 residential units and sports facilities at Sedra. Another agreement focuses on the development of more than 700 additional residential units.
Additionally, a SAR 130 mln (USD 35 mln) agreement was signed to construct Sedra’s first district retail mall. A fourth agreement, worth SAR 720 mln (USD 192 mln), will support the development of more than 300 premium residential units.
1 USD / 3.75 SAR
