ROSHN, Saudi Arabia’s national community developer powered by the Public Investment Fund (PIF), has announced new partnerships with Shapoorji Pallonji Mideast and Siemens Ltd. to support the development of the first phase of its first landmark Riyadh community development.
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The contracts, which are valued at SR1.9 billion, are key development pillars in the construction of the Riyadh community, the first to be launched by ROSHN as part of its mandate to contribute to the increasing demand for accessible homes across Saudi Arabia.
David Grover, CEO at ROSHN said:
“The Riyadh community sets a new standard for housing in Saudi Arabia by offering a dynamic and modern living experience, rooted in work and play, through the provision of quality homes at a competitive price.
“Our partnerships with Shapoorji Pallonji and Siemens clearly demonstrate ROSHN’s commitment to partnering with best-in-class organisations as we deliver this landmark development, and lies at the heart of our mission to support Vision 2030’s goals to create more opportunities for Saudis to own high-quality homes in the Kingdom.”
Mohandass Saini, CEO and MD at Shapoorji Pallonji said: “We are aligned with the Saudi government’s mandate to drive Saudization by hiring and training local talent in the real estate market.
“The company has already executed several mega projects in the Kingdom, including the headquarters of SABIC in Jubail, the headquarters of Saudi Electric Company (SEC), King Abdullah Financial District in Riyadh as well as various hotels, commercial complexes and high-rise commercial towers, creating job opportunities for the Saudi people.”
Spread across an area of 20 million square meters, the Riyadh community is strategically located south of King Khalid International Airport in the north of Riyadh, and close to the city’s main attractions, key highways and transportation links.
In addition to more than 30,000 contemporary homes that fuse modern design with a celebration of the capital’s rich heritage, the communities will include mosques, shops, cafes, parks, schools, and leisure and entertainment facilities.
The architectural design of the community has been carefully considered to reflect the best of modern living whilst celebrating Saudi Arabia’s rich culture and heritage.
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