ROSHN signs SAR 1.6 billion worth of contracts as construction commences on flagship Riyadh community

ROSHN signs SAR 1.6 billion worth of contracts as construction commences on flagship Riyadh community

ROSHN, Saudi Arabia's national community developer, powered by the Public Investment Fund (PIF), has announced the signing of SAR 1.6 billion worth of contracts as construction commences on its flagship Riyadh community.Amongst those appointed is contractor Rezaik Abdallah Al-Gedrawy & Co. who will be developing part of the four thousand homes in the community during the first phase, which will be developed by ROSHN and other partners. Additional partners include Zuheir Ahmad Zahran and Company, Al Akaria Hanmi, Posco E&C, AWJ International and C1 Company Building, who will be involved in other critical areas of construction including soil grading, sales and experience centre, site supervision and more.ROSHN's Riyadh Community forms part of the developer's wider 10-year strategy to contribute to the rapidly increasing demand for housing across the Kingdom. David Grover, Group Chief Executive Officer at ROSHN, commented: "These are the first set of many important partnerships to come that will play a crucial role in enabling us to fulfil our national mandate to support the government's efforts to increase the rate of home ownership to 70% by 2030. We will work together to further advance the nation's construction sector. This is the foundation for many of ROSHN's successes to come