Riyadh, Saudi Arabia – Saudi Arabia’s leading real estate developer, ROSHN Group, announced on Sunday a series of commercial partnerships totaling $2.4 billion, Saudi Press Agency (SPA) reported.
The most significant deal, valued at $2.05 billion, was signed with China Harbor Engineering to develop 6,700 residential units in Riyadh’s Sedra and Warfa communities. The partnership will also focus on the development of mosques, community centers, retail areas, and utilities in these communities.
In addition to the residential development, ROSHN inked a $224 million agreement with BC Marine Services to execute canal and bridge works for the recently announced MARAFY project in Jeddah. The project is one of the largest mixed-use developments in the region, expected to accommodate over 130,000 people and feature an 11 km manmade canal connected to Obhur Creek.
Also, ROSHN signed a $3.2 million deal with Saudi Basic Industries Corp. This agreement will cover primary and secondary infrastructure works for new and upcoming ROSHN communities in the western region of Saudi Arabia.
The group also entered into an agreement with Saudi Abyat to design and supply 12,000 kitchens for several of its future communities.
David Grover, CEO of ROSHN, emphasized the strategic importance of these partnerships.
“We follow a strategy aimed at building diverse partnerships based on deep Saudi expertise and global excellence,” he said. “These agreements 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, based on various criteria including project value, corporate social responsibility, and sustainability efforts.