Skip to content Skip to Search
Skip navigation

Roshn awards $57m contract for Riyadh villa community

By Pramod Kumar
Sedra will be developed in eight phases, adding more than 30,000 residential units to Riyadh’s housing stock SPA
Sedra will be developed in eight phases, adding more than 30,000 residential units to Riyadh’s housing stock

The Saudi giga-project Roshn has signed a deal worth more than SAR215 million ($57 million) with Dar Al Arkan, a local developer, for a villa community in Riyadh.

The two companies signed an agreement allowing Dar Al Arkan to acquire and develop residential villas in the first phase of Sedra.

The 35 million sq m flagship master development, launched in 2021, will be developed in eight phases, adding more than 30,000 residential units to Riyadh’s housing stock.

Person, Electronics, Mobile Phone

Newsletter
Get the Best of AGBI delivered straight to your inbox every week

Earlier this month, Public Investment Fund-backed Roshn announced building its first residential community in Mecca, which will cater to middle-income Saudis.

Saudi developer Roshn prioritises local sourcing

Roshn awards $2.4bn contracts for Saudi projects

Big 5 builders seek answers to Saudi’s $1.5trn question

The Almanar project will be located on the western outskirts of the city, with easy access to Jeddah airport. It will house 17,000 people in its first phase, Roshn said this week.

Almanar is Roshn’s sixth project, after Marafy and Alarous in Jeddah, Sedra and Warefa in Riyadh, and Alfulwa in Hofuf.

Latest articles

King Abdulaziz International Airport: the number of international flights increased but there were less than 27.4 million international visitors to the kingdom last year

Passenger numbers rise 26% in Saudi Arabia

Saudi Arabia said this week that its total number of air passengers rose 26 percent to 112 million in 2023. This includes a 46 percent rise in the total number of international travellers to 61 million.  The number means the kingdom’s airports are approaching full capacity, which is 116 million passengers a year, including 45 […]

Oil workers in Venezuela, a founder member of Opec. The IEA predicts slower demand growth

IEA and Opec move further apart on global oil demand

The division between the International Energy Agency and oil producers’ group Opec has deepened as the Paris-based energy watchdog once again curtailed its oil demand outlook for 2024, amid softer macro sentiment. In its monthly report, the IEA forecast on Wednesday that world fuel demand will grow by 1.1 million barrels per day (bpd) this […]

The funds stolen from cryptocurrency exchange Rain were converted into Bitcoin and Ethereum to disguise their origin

Crypto exchange Rain suffers $15m hack

Rain, a cryptocurrency exchange regulated in both the UAE and Bahrain, has confirmed a serious hack resulting in losses reportedly nearing $15 million.  The exchange said in a statement on its website on Tuesday that customer funds remain secure despite the incident.  The security breach occurred on April 29 and was first detected by blockchain […]

Dual-fuel container ship Ane Maersk leaves Hamburg on its maiden voyage Video length: 03:53

Shipping needs cheaper green methanol for its route to net zero

Higher costs and undersupply remain the biggest concerns for shipping companies seeking to reduce their greenhouse gas emissions by switching to green methanol.  Danish logistics company Maersk has ordered 25 vessels that can run on sustainably produced e-methanol. Its first large methanol container ship, Ane Maersk, arrived at Jebel Ali port in Dubai last week. […]