Saudi’s Roshn breaks ground on flagship project in Riyadh

Roshn Riyadh community project is being developed on a 20 million sqm area of land in the north of the capital city

Roshn, a Saudi Arabian national community developer backed by the Public Investment Fund (PIF) has announced that it has broken ground on its flagship community project – Roshn Riyadh, which is being developed on a 20 million sqm area of land in the north of the capital city, near King Khalid International Airport.

In a statement, the developer said that the project is conveniently located near the city’s main attractions, key highways, and transportation links. Roshn Riyadh is also the developer’s first community as per its mandate to develop communities across the kingdom, which will deliver more than 30,000 homes – with 4,000 set to be delivered in the first phase.

The project will feature contemporary homes that combine modern design with the city’s traditional heritage, the statement adds, pointing out that mosques, retail and F&B outlets, parks, schools and leisure and entertainment facilities will be part of the development.

The ground-breaking ceremony was held on December 2 in the presence of a number of top executives from the company including Group CEO David Grover.

The event marks a major milestone in the development of Roshn’s first community. It forms part of the developer’s wider long-term strategy to contribute to the rapidly increasing demand for housing across the kingdom.

Speaking at the event, Grover said: “Breaking ground today is incredibly symbolic for all involved; it heralds the official start of a much-anticipated development that represents a new era of community living, whilst making meaningful contributions the nation’s real estate sector.”

The kingdom’s newest real estate group, Roshn was set up in August by Saudi PIF to develop world-class integrated urban communities across the kingdom.

Roshn had last week awarded contracts worth $427 million for this flagship project to a host of Saudi companies. Rezaik Abdallah Al Gedrawy and Company was signed up to build a part of the 4,000 homes in Phase One, while the additional partners – Zuheir Ahmad Zahran and Company, Al Akaria Hanmi, Posco E&C, AWJ International and C1 Company Building – were roped in for other critical areas of construction including soil grading, sales and experience centre, site supervision.

The Saudi developer said the flagship project will be implemented in eight phases. Off-plan homes will be available for sale during the first half of 2021, it added.


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