Saudi's ROSHN breaks ground on flagship 20km2 residential project

he event marked a major milestone in the development of ROSHN’s first community as part of its mandate to develop communities across the Kingdom. The national community developer aims to deliver more than 30,000 homes as part of the Riyadh residential project, with more than 4,000 to be built in Phase 1. The community is conveniently located close to the capital’s main attractions, key highways, and transportation links. The megaproject will comprise mosques, shops, cafes, parks, schools, and leisure and entertainment facilities. The project is part of ROSHN’s long-term strategy to contribute to the rapidly increasing demand for housing across the kingdom. Saudi Arabia-based contractor Rezaik Abdallah Al-Gedrawy & Co has been chosen to build part of the 4,000 homes in the community during Phase 1 of construction, which will be developed by ROSHN. In addition, ROSHN has chosen other partners for Phase 1, including Zuheir Ahmad Zahran and Company; Al Akaria Hanmi; Posco E&C; AWJ International; and C1 Company Building, who will be involved in other critical areas of construction including soil grading, sales and experience centre, site supervision, and more. Commenting on the start of construction at the groundbreaking event, the group chief executive officer at ROSHN, David 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 to the nation’s real estate sector.” Last month, ROSHN inked contracts worth $426.6m (SAR1.6bn) relating to the construction of homes and other critical areas of development, including infrastructure and water works; environment and valley arms protection; site supervision; fit-outs; and more. Off-plan homes will be available for sale during H1 2021.

Saudi Arabia · 5 Oct 2020