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ROSHN Group awards SAR 215 million contract to Dar Al Arkan for homes in SEDRA, Riyadh
- ROSHN completes Sale and Purchase Agreement with Dar Al Arkan to acquire and develop residential villas in SEDRA 1A
- Deal worth 215 million Saudi Riyals will see Dar Al Arkan develop villas in ROSHN’s flagship integrated community
ROSHN Group, Saudi Arabia’s leading national real estate developer and PIF giga-project, today announced the signing of a deal, worth over 215 million Saudi Riyals, with partner developer Dar Al Arkan. The two developers have signed a Sale and Purchase Agreement, following a similar agreement last year, that will see Dar Al Arkan acquire and develop residential villas in SEDRA 1A.
Dar Al Arkan, founded in 1994, is the largest developer by market value in Saudi Arabia, and has built 15,000 residential villas across 8 countries. The property developer recently launched sales for “Etoile by Elie Saab”, a tranche of luxury homes in SEDRA that are designed and fitted by the Lebanese designer, marking the fashion house’s first branded residences in Saudi Arabia.
ROSHN’s latest partnership with a Saudi developer is part of the Group’s overarching strategy to partner with best-in-class entities across a range of verticals, including project developers. ROSHN has struck sub-developing agreements with a number of Saudi-owned developers as part of its stated commitment to enabling the Kingdom’s private sector. In the last year, the Group launched sales for WAREFA, in east Riyadh, ALAROUS, the community adjoining MARAFY in Jeddah, and phases 2 & 3 of the flagship SEDRA.
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ROSHN Group awards SAR 215 million contract to Dar Al Arkan for homes in SEDRA, Riyadh
