Feb 15, 2025
ROSHN Group, the Kingdom’s leading multi-asset class real estate developer and a PIF company, reinforced its commitment to fostering local content and driving economic growth at the third edition of the PIF Private Sector Forum. As part of its active participation, ROSHN Group announced new agreements worth 1.5 billion Saudi Riyals, For construction operations and the development of infrastructure and retail facilities in SEDRA Community, the Group’s largest integrated development in Riyadh.
The agreements signed during the forum reflect ROSHN Group’s strategic efforts to strengthen the Kingdom’s construction sector, expand local expertise, and enhance supply chain localization. The contracts were awarded to local, Saudi-based contractors and a major international firm investing in local operations, further solidifying ROSHN Group’s role in enabling national capabilities.
The first agreement, valued at 650 million Saudi Riyals, was signed with Riyadh-based contractor SARH ATTQNIA to develop more than 900 residential units and sports facilities at SEDRA Community. Another agreement was signed with Building Construction Company (BCC) for the development of more than 700 residential units, supporting the continued expansion of the integrated community SEDRA. In addition, a 130 million Saudi Riyal agreement was signed with Development Works, covering the construction of SEDRA’s first district retail mall. A fourth agreement, worth 720 million Saudi Riyals, was signed with China Harbour Engineering Company for the development of more than 300 premium residential units in SEDRA.
Alongside these agreements, ROSHN Group expanded its strategic partnerships by signing several Memorandums of Understanding (MoUs) and Framework Agreements with leading international and local companies. These agreements will strengthen partnerships with the contracting sector and further localize key building materials and technologies, ensuring greater reliance on domestic expertise. Among the key collaborations are partnerships with Daikin and Johnson Controls, alongside Saudi firms such as Solutions Valley Company, Shaker Group, and ARAK City, focusing on the localized manufacturing of building systems and energy-efficient solutions.
"Our mandate at ROSHN Group extends beyond developing integrated projects; it plays a vital role in advancing Saudi Arabia’s economic diversification by strengthening local industries and expanding national capabilities. The signing of these agreements at the PIF Private Sector Forum reflects this commitment, as we continue to invest in the Kingdom’s construction ecosystem. These partnerships accelerate the progress of our projects while contributing to a more resilient and dynamic national economy." Said Iain McBride, Executive Director, Commercial, ROSHN Group
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