Roshn awards several giga-project contracts in excess of $2.4bn
The deal with China Harbour Engineering Company is the principal element in a new range of high-value agreements
Roshn has awarded over US $2.4bn worth of contracts linked to construction, primary and secondary infrastructure work across its raft of forthcoming development projects.
The first contract, worth $2.05bn, has been awarded to China Harbour Engineering Company for the construction of 6,700 residential units, as well as retail and supporting public amenities, including mosques and community centres at Roshn’s Sedra and Warefa communities in Riyadh.
Roshn said this commercial contract was the largest in value to be announced among all Saudi giga-projects to date – and the entire work would be completed within a 45-month period.
The second deal, worth $187.8mn, was sealed with Saudi group PC Marine Services for canal and bridge construction in Roshn’s recently announced Marafy community, which connects to Alarous in Jeddah.
The third contract was awarded to Saudi Abyat for the design and supply of around 12,000 kitchens with high-quality design, construction, and fittings in several upcoming Roshn communities.
The last deal – worth $229mn – was sealed with Saudi Pan Kingdom Company, covering primary and secondary infrastructure works in Roshn’s upcoming and yet-to-be announced communities in the kingdom’s western regions.
On the deals, CEO David Grover said, “I am very proud to announce these multi-billion commercial partnerships, including the largest among Saudi giga projects to date. At Roshn, we form commercial partnerships to harness both Saudi and international expertise, ensuring our residents and communities consistently benefit from our unwavering efforts to elevate the kingdom’s construction and real estate sector. These agreements are paramount in fortifying our supply chains and maintaining the unmatched pace and magnitude of delivery expected of Vision 2030.”
“They serve as conduits for driving Foreign Direct Investment (FDI) into Saudi Arabia and for bolstering local suppliers by weaving them into our flagship projects. In essence, these commercial partnerships epitomise our shared vision, dedication, and ambition to craft transformative, sustainable, people-centric communities,” he concluded.
