Officials of Roshn and Retal at the signing ceremony.
Roshn picks Retal for Riyadh’s Sedra homes
01 February 2022
Roshn, a leading Saudi real estate developer powered by the Public Investment Fund (PIF), has signed a partnership deal with Retal Urban Development for its new residential neighbourhood featuring 103 villas and townhouses within Phase One of Sedra, the company’s first living community project in Riyadh.
Set to be Roshn’s first community, Sedra covers an area of over 20 million sq m and incorporates more than 30,000 homes. The community offers a walkable, feature-rich living environment with mosques, kindergartens and public and private schools, hospitals, healthcare centres, shopping malls, commercial retail spaces and police stations.
Sedra illustrates Roshn’s ambition to create a complete city experience within a community, as well as being an important step towards Vision 2030’s goal of increasing home ownership among Saudi citizens.
Roshn points out that Retal is its first sub-developer partner for the project and has been selected based on its track record of developing good houses as well as meeting technical and commercial criteria following an extensive selection process.
On the deal, Retal CEO Abdullah Al Braikan says: “This partnership presents a very positive step for Retal. We are now working with a national real estate development company towards a common goal: Building real estate projects that adhere to the highest technical standards and quality of life requirements, in accordance with Vision 2030.”
“This partnership marks another achievement in our endeavour to raise standards in every Retal project,” he states.
Retal is committed to creating state-of-the-art housing solutions for a modern, upscale, urban community development.
On the partnership, Roshn Group CEO David Grover says: “At Roshn, we have a firm commitment to work closely with private sector developers, and I am very happy to see Retal joining us as our first such partner.”
Privately developed neighbourhoods will be integrated into Roshn’s masterplanned communities and complement the homes being built by Roshn.
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