RIYADH: Saudi Arabia’s leading real estate developer ROSHN Group on Sunday announced four commercial partnerships worth SR9 billion ($2.4 billion) in the construction and infrastructure space.
According to the Saudi Press Agency, these partnerships align with the Public Investment Fund-backed group’s objective to achieve the Kingdom’s Vision 2030 goals.
The SPA report revealed that the developer signed a deal worth SR7.69 billion with China Harbor Engineering to develop 6,700 residential units in the Sedra and Warfa communities in Riyadh.
The deal will also see ROSHN and the Chinese company working together to develop mosques, community centers, retail areas and utilities for these communities.
ROSHN signed another agreement worth SR690 million with PC Marine Services to carry out canal and bridge works on the recently announced MARAFY project in Jeddah.
It is considered one of the largest mixed-use projects, accommodating over 130,000 people and including a 100-meter wide manmade canal that extends 11 km, connected to Obhur Creek.
The developer signed another agreement worth SR12 million with Saudi Basic Industries Corp. to cover the primary and secondary infrastructure works for the new and upcoming ROSHN communities in the western region.
ROSHN also signed another cooperation agreement with Saudi Abyat to design and supply 12,000 kitchens for several of its future communities.
The firm inked a SR840 million agreement with Saudi Pan Kingdom Company covering primary and secondary infrastructure works in ROSHN’s upcoming and yet-to-be announced communities in the Kingdom’s western regions.
“We, at ROSHN, follow a strategy aimed at building diverse partnerships based on deep Saudi expertise and global excellence, to ensure exceptional solutions for our residents and communities,” said David Grover, CEO of ROSHN.
He added: “With these huge agreements, we strengthen our strategy and expand supply networks, as they represent real progress toward achieving the ambitious goals of the Kingdom’s Vision 2030.”
Earlier this month, ROSHN was named the top developer in the Gulf Cooperation Council region by Construction Week Middle East’s Top 50 GCC Developers 2023 list.
ROSHN was selected as the winner based on a number of criteria, including the value of completed projects, the value of projects under construction, the value of recently awarded contracts, and the company’s commitment to corporate social responsibility and sustainability endeavors.
