Once the project is fully complete, it will add more than 30,000 residential units to Riyadh’s housing stock
Saudi Public Investment Fund (PIF) owned developer Roshn has begun handing over villas and townhouses within Phase One of its key Sedra development, which is taking shape in northern Riyadh. The developer said it is delivering its first project in the Kingdom ahead of its planned schedule.
According to the developer, Sedra is being developed over eight phases in the capital’s northern corridor, and boasts an ‘open living’ design principle built around public spaces, green areas, communal facilities such as local majlis, and ‘living’ streets characterised by curb-less roads and homes without perimeter walls.
Once complete, the project will add more than 30,000 residential units to Riyadh’s housing stock and provide 20m sqm of integrated neighbourhoods, supported by education and healthcare infrastructure, retail outlets, restaurants, parks, shaded footpaths, cycle tracks and carefully tended green spaces.
PIF launched Roshn in August 2020 and in December 2020, the developer broke ground on the Roshn Riyadh masterplan.
Announcing the handover, Group CEO, David Grover said new homeowners are receiving keys and title deeds to villas and townhouses within Sedra Phase 1, thus making them the first to take possession of properties in the Roshn community.
He stated, “This handover is a momentous occasion not just for us but for the Kingdom at large. While this marks another step on our journey to provide high-quality homes to the Saudi people, we are also driving change, creating a new concept of living, and adding to the quality of life of our citizens and residents.”
He concluded, “Sedra will be the first project that sees our vision for the future become a reality on the ground, and I’m excited for our first residents to experience the Roshn way of life.”
In May 2021, the Saudi Crown Prince set a target for the Kingdom to build one million residential units in five years and, in April 2022, Roshn said it had achieved 10m manhours with with no LTIs on its Sedra project.