ROSHN Group, the prominent national real estate developer and PIF-owned giga-project in Saudi Arabia, has inked a new SAR317 million sale and purchase agreement with Ajdan Real Estate Development Company. This marks the second consecutive year of collaboration, focusing on developing 302 residential villas within Phase 2B of ROSHN's flagship SEDRA community in Riyadh.
Ajdan will undertake the development across a 90,650 square meter plot over a 36-month period, emphasizing a commitment to modern, open lifestyle communities enriched with world-class amenities. The partnership aligns with ROSHN's dedication to delivering high-quality real estate projects, fostering economic growth through collaboration with leading Saudi companies and supporting Vision 2030's objective of increasing homeownership.
ROSHN Group Chief Sales Officer, Jason Margetts, expressed delight in extending the agreement with Ajdan, emphasizing the shared commitment to delivering top-notch living standards. Ajdan's CEO, Mohammed Abdulmohsen Al-Otaibi, highlighted the partnership's importance in developing lifestyle-centric projects and praised ROSHN's leadership in creating well-facilitated communities in the Kingdom.
Ajdan will execute the development under its latest project, "Raseen," featuring various models with distinctive finishes. SEDRA, constructed over 35 million square meters, is ROSHN's flagship development, contributing over 30,000 residential units to Riyadh's housing stock. Phase 2 includes signature ROSHN features, blending essential and lifestyle amenities with residential, commercial, and retail spaces. The project emphasizes incorporating nature and local heritage into its master planning, ensuring a harmonious blend of public spaces, amenities, and natural features within the community.
