Saudi gigaproject developer Roshn and local developer Dar Al Arkan have signed an agreement to develop residential units within the Roshn's Sedra community in Riyadh. The $57m deal involves Dar Al Arkan subdeveloping residential villas within the first phase of the Sedra community. Roshn has signed several agreements with local real estate developers recently for the development of housing units within its development. In December 2023, Roshn and local developer Ajdan Real Estate Development Company signed an agreement to develop residential units within Roshn’s Sedra community. The $84mdeal involves Ajdan sub-developing 302 residential villas within Sedra phase 2B over a period of three years. The deal was announced shortly after Roshn signed a $100m agreement with the private developer Retal Urban Development Company (Retal) to purchase land and develop 363 housing units in Roshn’s Sedra residential community. Created in 2018, Roshn aims to increase homeownership rates among Saudi citizens to 70 per cent. The company plans to develop more than 395,000 residential units in cities within Riyadh, Mecca, Asir and the Eastern Region. Roshn is developing the Sedra community, which is masterplanned to include 30,000 homes across eight phases, in northeast Riyadh. For registration as supplier: https://www.roshn.sa/en/opportunities#vendors (ICE RIYADH)

Fonte notizia: Meed