It is located on an area of 54 thousand square meters, exceeding a value of 223 million Riyals.
ROSHN and "Al-Mozaini" signed an agreement to purchase land in "SEDRA."
- SEDRA residential project is located on an area of more than 20 million square meters and includes more than 30,000 units
RIYADH, 04 October 2022 - ROSHN, a national real estate developer fully owned by the Public Investment Fund, announced the signing of an agreement with Al Mozaini Real Estate Company, signing a conditional land sale agreement, after acquiring a plot of land with an area of more than 54,000 square meters, with a value of more than 223 million Riyals, as part of an ambitious plan to build integrated residential communities.
Sabah Barakat, the Group Chief Operating Officer of ROSHN, said: "Today, we are working on developing urban concepts that reflect the standards of quality of life and are in line with the aspirations of the Saudi society by relying on a team of talented among the best specialists and experts in development projects and the construction and development sector in the region, and we are working on selecting the best real estate developers from the private sector, on cooperating in building and developing the SEDRA residential project in the capital, Riyadh.” In ROSHN, we always focus on attracting talents who have exceptional experiences in various fields, which enable them to provide creative ideas and innovative solutions that contribute to the development of our communities.
The CEO of Al-Mozaini Real Estate Company, Eng. Wessam Al-Dumiati, expressed his pleasure at the partnership and signing of the agreement with ROSHN: "He stressed that we in Al-Mozaini seek to achieve the objectives of the housing program - one of the programs of the Saudi Vision 2030 - by raising the ownership rate to 70% by 2030. The signing of the agreement is one of the achievements added to the work of Al Mozaini Company in real estate development to be in addition to the thousands of residential products that the company has implemented with the highest quality standards between housing units and developed lands.
ROSHN is a national real estate developer powered by Saudi Arabia’s Public Investment Fund (PIF). It has the mandate to deliver high-quality living standards to Saudis and support government efforts to increase homeownership rates. ROSHN builds communities that look both to Saudi heritage and the evolving aspirations of the Saudi people, acting as the master developer, property developer, and operator across a broad range of asset classes and land uses, including residential, retail, commercial, hospitality and public/civic facilities.
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