RIYADH: Saudi developer Dar Al Arkan has won a contract to develop residential units in SEDRA, an integrated community project being developed in northern Riyadh by national developer ROSHN, a Public Investment Fund-backed company.
This brings two of the leading property developers in Saudi Arabia together as both look to combine their expertise to bring more variety to ROSHN’s housing offering at SEDRA.
“We will deliver beautiful and well-appointed villas in the community that will further raise the bar for luxury residences in Saudi Arabia,” said Yousef Al Shelash, chairman of Dar Al Arkan.
Being developed in eight phases, SEDRA is set to add 30,000 residential units to Riyadh’s housing stock once completed in three years. The project is being constructed over 20 million square meters of neighborhoods.
A flagship development of ROSHN, SEDRA recently won the ‘Residential Project of the Year’ award at the Construction Week Middle East 2022 Awards held in Dubai.
The project will offer a diverse mix of residences built around a ‘work, live and play’ model, the company said in a press release, adding that it will foster a sustainable community.
ROSHN said it seeks to bring a new concept of integrated, human-centric, livable communities to the Kingdom. SEDRA’s facades are influenced by the ‘Salmani’ style of architecture, it said. The company said the project will have a blend of tradition and modernity, while it will have natural features including a wadi and an acacia forest.
“Bringing the ROSHN concept to life requires novel ways of thinking, new partnerships with the top entities in their fields, and innovative solutions to address the challenges of the future. As a development sector enabler, ROSHN leverages its partnerships to ensure we bring the highest quality homes to markets, across the Kingdom,” said ROSHN Group CEO, David Grover.
Dar Al Arkan Properties is fast growing its portfolio across the Kingdom and expanding its international footprint. It boasts a track record of delivering 15,000 residential units and over 50,000 square meters of commercial space.
ROSHN’s ethos is to develop communities that look both to Saudi heritage and the evolving aspirations of the Saudi people. The master developer operates across a broad range of asset classes and land uses, including residential, retail, commercial, hospitality, and public and civic facilities.