Dar Al Arkan, a leading real estate company in Saudi Arabia, said it has been awarded a contract by Roshn, the leading master developer and a unit of Saudi sovereign wealth fund PIF (Public Investment Fund) for development of residential units at the group's landmark project, Sedra, located in northern Riyadh. 

 

Sedra offers a diverse mix of housing typologies in terms of shape, size, and density, and is designed around a ‘work, live and play’ model that aims to foster a sustainable community that supports full and rewarding lifestyles. 

 

Driving change in the kingdom’s real estate landscape, Roshn brings a new concept of integrated, human-centric, liveable communities into the country.

 

Combining the expertise of two of the sector’s most important players, this collaboration will bring even more variety to Roshn’s housing offering at Sedra, said its top official. 

 

"Our vision at Roshn is to develop fully integrated, sustainable, modern communities that pay homage to the kingdom’s rich architectural heritage and enrich the lifestyles of citizens and residents," said Roshn Group CEO David Grover.

 

"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, we leverage our partnerships to ensure we bring the highest quality homes to markets, across the kingdom," stated Grover.

 

ROSHN is powered by Saudi Arabia’s Public Investment Fund (PIF) and builds ‘living’ communities by placing key health, education, sports, retail, and entertainment amenities within walking distance of every home. Social interaction is encouraged through attractive public spaces, including green areas and communal facilities such as local majlis, as well as ‘living’ streets characterised by curb-less roads and homes without perimeter walls. 

 

On the collaboration, Dar Al Arkan Chairman Yousef Al Shelash said: "Sedra is one of the Kingdom's most anticipated projects, and we are confident that with our years of expertise and focus on quality, we will deliver beautiful and well-appointed villas in the community that will further raise the bar for luxury residences in Saudi Arabia."

 

Slated to be completed over a period of three years, Sedra is being developed in eight phases and will add more than 30,000 residential units to Riyadh’s housing stock, constructed over 20 million sq m of neighbourhoods.-TradeArabia News Service