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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.

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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.

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