PIF-backed Roshn Group signed new agreements worth SAR 1.5 bn for the development of its Sedra neighbourhood, Executive General Manager of Procurement Ian McBride told Al Arabiya on the sidelines of the PIF Private Sector Forum.

The details: Roshn signed a SAR 700 mn agreement with China Harbour which will build upon the recent opening of an integrated pre-cast factory to offer more high-end products. Another SAR 650 mn agreement with Saudi-based Sarh Attaqnia Company will see the roll-out of 900 multi-family units in Sedra. Roshn also entered into a SAR 130 mn agreement with Riyadh-based Development Works for Sedra’s first commercial mall, which will include retail stores, restaurants, cafés, and office spaces.

About Sedra: The flagship development, which is located in Northern Riyadh within close proximity of King Khalid International Airport, is set to add more than 30k residential units and 400 amenities over a 20 mn sqm area, according to its website.

Roshn also signed a number of agreements for the development of infrastructure at the developer’s projects across the Kingdom, including:

  • An agreement with the Aluminum Products Company (Alupco) to set up a manufacturing facility for aluminum windows and doors in Riyadh;
  • An MoU with Daikin Saudi to cooperate on setting up a production facility in the Kingdom for heating, ventilation and air conditioning (HVAC) systems;
  • An agreement with Johnson Controls Arabia for energy-efficient HVAC solutions at Roshn projects;
  • A MoU with Solutions Valley, which will see it offer consultations for evaluating and designing energy-efficient electrical infrastructure;
  • An agreement with Shaker Group to prioritize allocating products to Roshn with preferential pricing.
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