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ROSHN and Ajdan sign a conditional land purchase agreement to develop family villas in Riyadh’s SEDRA
الثلاثاء - 20 ديسمبر 2022
Tue - 20 Dec 2022
ROSHN, the nation’s leading real estate developer, and the the real estate company, Ajdan, have signed an agreement that will see Ajdan develop over 270 family villas within SEDRA, ROSHN’s flagship community in Riyadh. The new homes will be built on a 80,700 square metre plot in SEDRA’s Phase 1, adding to the mix of high-quality housing units available in the ground-breaking development that is bringing ROSHN’s trademark combination of integrated, walkable residential neighbourhoods to Riyadh’s vibrant northern corridor.
“By partnering with leaders in the real estate arena, like Ajdan, we ensure that the residents of our communities have access to the best products and services that the industry has to offer. Like us, Ajdan is introducing new living experiences to the Saudi housing market, and their villas will perfectly complement our design vision of open, integrated communities supported by a world-class array of amenities,” said ROSHN Group CEO, David Grover.
Commenting on the agreement, CEO of Ajdan Real Estate Development Company, Mohammed Al-Otaibi, said, "We are pleased to partner with ROSHN as we work hand in hand to bring a higher quality of life throughout the Kingdom that supports our strategy as well as ROSHN’s.”
ROSHN’s partnership strategy, which extends across consultants, main contractors, sub-contractors, and suppliers, is also boosting local economies and the national real estate sector by providing investment opportunities, catalysing supply chains, and creating new jobs. The company aspires to be a national champion and the largest developer in the region, driving growth and setting new standards across multiple sectors, acting as a key tool for private sector enablement, localization, and talent development.
SEDRA, ROSHN’s first project in the Kingdom, has been delivered ahead of schedule. The community will feature neighbourhoods packed with amenities that support a well-balanced, fulfilling lifestyle – including cycling routes, parks, sports areas, health and education infrastructure, shopping malls, cafes and restaurants, and mosques.
The Agreement with Ajdan brings together two institutions at the leading edge of the Kingdom’s real estate expansion. Founded in 2016, Ajdan has built its reputation on innovative mixed-use developments across the Eastern Province – including the iconic ‘Ajdan Waterfront’ in Al Khobar. As well as real estate development, the company has a strong pedigree in asset management and real estate portfolio investments, property management sales, and lease & marketing.
ROSHN is a national real estate developer, powered by Saudi Arabia’s Public Investment Fund (PIF). Its developments are unprecedented in scale in Saudi Arabia and will generate vibrant new communities in 9 cities across four regions, including Riyadh, Jeddah, Al Kharj, Al Hofuf, Al Qatif, Makkah, and Abha. Following the successful opening of its flagship SEDRA development, ROSHN has brought its vision for a new way of living to the Kingdom’s west coast, with the launch of Jeddah’s ALAROUS. ROSHN builds communities that look both to Saudi heritage and the evolving aspirations of the Saudi people, acting as the master developer, property developer and operator across a broad range of asset classes and land uses, including residential, retail, commercial, hospitality and public/civic facilities.
About ROSHN:
ROSHN is the national real estate developer of the Kingdom of Saudi Arabia, owned by Saudi Arabia’s Public Investment Fund (PIF). It has a mandate to deliver high-quality living standards to Saudis and support government efforts to increase rates of home ownership. ROSHN is a concept-based company that utilises a range of projects to humanise the real estate sector and provide human-centric and sustainable real estate developments in line with Saudi Arabia’s Vision 2030. ROSHN builds communities that look both to Saudi heritage and the evolving aspirations of the Saudi people, acting as the master developer, property developer and operator across a broad range of asset classes and land uses, including residential, retail, commercial, hospitality and public facilities.
“By partnering with leaders in the real estate arena, like Ajdan, we ensure that the residents of our communities have access to the best products and services that the industry has to offer. Like us, Ajdan is introducing new living experiences to the Saudi housing market, and their villas will perfectly complement our design vision of open, integrated communities supported by a world-class array of amenities,” said ROSHN Group CEO, David Grover.
Commenting on the agreement, CEO of Ajdan Real Estate Development Company, Mohammed Al-Otaibi, said, "We are pleased to partner with ROSHN as we work hand in hand to bring a higher quality of life throughout the Kingdom that supports our strategy as well as ROSHN’s.”
ROSHN’s partnership strategy, which extends across consultants, main contractors, sub-contractors, and suppliers, is also boosting local economies and the national real estate sector by providing investment opportunities, catalysing supply chains, and creating new jobs. The company aspires to be a national champion and the largest developer in the region, driving growth and setting new standards across multiple sectors, acting as a key tool for private sector enablement, localization, and talent development.
SEDRA, ROSHN’s first project in the Kingdom, has been delivered ahead of schedule. The community will feature neighbourhoods packed with amenities that support a well-balanced, fulfilling lifestyle – including cycling routes, parks, sports areas, health and education infrastructure, shopping malls, cafes and restaurants, and mosques.
The Agreement with Ajdan brings together two institutions at the leading edge of the Kingdom’s real estate expansion. Founded in 2016, Ajdan has built its reputation on innovative mixed-use developments across the Eastern Province – including the iconic ‘Ajdan Waterfront’ in Al Khobar. As well as real estate development, the company has a strong pedigree in asset management and real estate portfolio investments, property management sales, and lease & marketing.
ROSHN is a national real estate developer, powered by Saudi Arabia’s Public Investment Fund (PIF). Its developments are unprecedented in scale in Saudi Arabia and will generate vibrant new communities in 9 cities across four regions, including Riyadh, Jeddah, Al Kharj, Al Hofuf, Al Qatif, Makkah, and Abha. Following the successful opening of its flagship SEDRA development, ROSHN has brought its vision for a new way of living to the Kingdom’s west coast, with the launch of Jeddah’s ALAROUS. ROSHN builds communities that look both to Saudi heritage and the evolving aspirations of the Saudi people, acting as the master developer, property developer and operator across a broad range of asset classes and land uses, including residential, retail, commercial, hospitality and public/civic facilities.
About ROSHN:
ROSHN is the national real estate developer of the Kingdom of Saudi Arabia, owned by Saudi Arabia’s Public Investment Fund (PIF). It has a mandate to deliver high-quality living standards to Saudis and support government efforts to increase rates of home ownership. ROSHN is a concept-based company that utilises a range of projects to humanise the real estate sector and provide human-centric and sustainable real estate developments in line with Saudi Arabia’s Vision 2030. ROSHN builds communities that look both to Saudi heritage and the evolving aspirations of the Saudi people, acting as the master developer, property developer and operator across a broad range of asset classes and land uses, including residential, retail, commercial, hospitality and public facilities.
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