ROSHN Group, a prominent real estate developer in Saudi Arabia, has signed new agreements valued at SAR1.5 billion ($400 million). These agreements focus on construction operations and the development of infrastructure and retail facilities within the SEDRA Community, the group’s largest integrated project in Riyadh. Announced at the third edition of the Public Investment Fund (PIF) Private Sector Forum, the agreements emphasize ROSHN Group’s commitment to fostering local content and supporting the Kingdom’s economic growth.
Strengthening Local Capabilities and Partnerships
These agreements highlight ROSHN Group’s strategic role in enhancing Saudi Arabia’s construction sector and expanding local expertise. Contracts have been awarded to both local Saudi-based contractors and international firms, investing in local operations. This approach also helps reinforce ROSHN Group’s mission to localize the supply chain and boost national capabilities, making a significant contribution to the Kingdom’s economic diversification.
Key Projects and Agreements Signed
Several important agreements were signed to further develop the SEDRA Community. The first agreement, worth SAR650 million, will support the construction of over 900 residential units and sports facilities. Additionally, another agreement, valued at SAR720 million, focuses on developing more than 300 premium residential units. Another crucial agreement, worth SAR130 million, covers the construction of SEDRA’s first district retail mall. Finally, a further agreement was signed for the development of over 700 residential units, helping to expand the community’s infrastructure and offerings.
Commitment to Economic Diversification
Iain McBride, Executive Director of ROSHN Group, emphasized that the company’s role extends far beyond real estate development. ROSHN is committed to supporting Saudi Arabia’s economic diversification by strengthening local industries and expanding national capabilities. With these strategic agreements, ROSHN Group continues to align with the Kingdom’s broader vision of fostering a sustainable, diversified economy.
