Latest news with #SAR130
Zawya
17-02-2025
- Business
- Zawya
Roshn awards contract for over 1,900 homes, retail units in Sedra
Roshn Group, the kingdom's leading multi-asset class real estate developer powered by Saudi wealth fund PIF, has announced that it has awarded new contracts worth SAR1.5 billion ($400 million) for Sedra Community, the group's largest integrated development in Riyadh. The scope of work includes construction of more than 1,900 residential units as well as infrastructure development works related to the retail facilities of Sedra, said Roshn in a statement. These agreements were signed at the third edition of the PIF Private Sector Forum in Riyadh, thus reflecting Roshn's strategic efforts to strengthen the kingdom's construction sector, expand local expertise, and enhance supply chain localization. The first agreement, valued at SAR650 million, was signed for development of more than 900 residential units and sports facilities at Sedra Community. Another agreement was signed for the development of more than 700 residential units, supporting the continued expansion of the integrated community. In addition, a SAR130 million agreement was signed for the construction of Sedra's first district retail mall. A fourth agreement, worth SAR720 million, was signed for the development of more than 300 premium residential units in Sedra. All of these contracts were awarded to several leading national and international contracting companies investing in Saudi operations, further solidifying Roshn's role in enabling national capabilities, stated the developer. This move reinforces our commitment to fostering local content and driving economic growth, remarked Iain McBride, the Executive Director (Commercial) at Roshn Group. "Our mandate at Roshn Group extends beyond developing integrated projects; it plays a vital role in advancing Saudi Arabia's economic diversification by strengthening local industries and expanding national capabilities," he added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
15-02-2025
- Business
- Trade Arabia
Roshn awards contract for over 1,900 homes, retail units in Sedra
Roshn Group, the kingdom's leading multi-asset class real estate developer powered by Saudi wealth fund PIF, has announced that it has awarded new contracts worth SAR1.5 billion ($400 million) for Sedra Community, the group's largest integrated development in Riyadh. The scope of work includes construction of more than 1,900 residential units as well as infrastructure development works related to the retail facilities of Sedra, said Roshn in a statement. These agreements were signed at the third edition of the PIF Private Sector Forum in Riyadh, thus reflecting Roshn's strategic efforts to strengthen the kingdom's construction sector, expand local expertise, and enhance supply chain localization. The first agreement, valued at SAR650 million, was signed for development of more than 900 residential units and sports facilities at Sedra Community. Another agreement was signed for the development of more than 700 residential units, supporting the continued expansion of the integrated community. In addition, a SAR130 million agreement was signed for the construction of Sedra's first district retail mall. A fourth agreement, worth SAR720 million, was signed for the development of more than 300 premium residential units in Sedra. All of these contracts were awarded to several leading national and international contracting companies investing in Saudi operations, further solidifying Roshn's role in enabling national capabilities, stated the developer. This move reinforces our commitment to fostering local content and driving economic growth, remarked Iain McBride, the Executive Director (Commercial) at Roshn Group.
Asharq Al-Awsat
15-02-2025
- Business
- Asharq Al-Awsat
ROSHN Group Signs SAR1.5 Billion Agreements
ROSHN Group, the Kingdom's leading multi-asset class real estate developer and a PIF company, reinforced its commitment to fostering local content and driving economic growth at the third edition of the PIF Private Sector Forum. As part of its active participation, ROSHN Group announced new agreements worth SAR1.5 billion for construction operations and the development of infrastructure and retail facilities in SEDRA Community, the Group's largest integrated development in Riyadh, SPA reported. The agreements signed during the forum reflect ROSHN Group's strategic efforts to strengthen the Kingdom's construction sector, expand local expertise, and enhance supply chain localization. The contracts were awarded to local, Saudi-based contractors and a major international firm investing in local operations, further solidifying ROSHN Group's role in enabling national capabilities. The agreements were signed with several leading national and international contracting companies investing in the local market. The first agreement, valued at SAR650 million, was signed to develop more than 900 residential units and sports facilities at SEDRA Community. Another agreement was signed for the development of more than 700 residential units, supporting the continued expansion of the integrated community SEDRA. In addition, a SAR130 million agreement was signed for covering the construction of SEDRA's first district retail mall. A fourth agreement, worth SAR720 million, was signed with for the development of more than 300 premium residential units in SEDRA. "Our mandate at ROSHN Group extends beyond developing integrated projects; it plays a vital role in advancing Saudi Arabia's economic diversification by strengthening local industries and expanding national capabilities," said Iain McBride, Executive Director, Commercial, ROSHN Group.
