Roshn, Saudi Arabia’s national community developer, has announced its highly anticipated Riyadh community, spread across 20 million square meters and consisting of more than 30,000 homes. It is the first community to be announced by Roshn as part of a 10-year mandate to develop communities across the Kingdom.
The community is located close to the capital’s main attractions, key highways and transportation links, with mosques, shops, cafes, parks, schools, and leisure and entertainment facilities. The architectural design of the community has been carefully considered to reflect the best of modern living whilst celebrating Saudi Arabia’s rich culture and heritage. The communities will provide homes to meet the needs of Saudis, offering modern living within a traditional setting.
David Grover, group chief executive officer at Roshn, said: “The announcement of the Riyadh community represents the initial step in the realization of our vision to become the most trusted community developer in Saudi Arabia. We are deeply committed to contributing to Vision 2030’s plans to increase the rate of home ownership in the country to 70 percent, whilst delivering high-quality homes and excellent amenities to the Saudi people.”
Off-plan homes will be available for sale during the first half of 2021.
Roshn was launched earlier this year by the Public Investment Fund (PIF) to deliver high-quality residential neighborhoods to Saudi nationals. The company is committed to actively supporting Vision 2030’s plans to increase the rate of home ownership to 70 percent. Roshn’s mandate is to develop large-scale modern and integrated communities in nine cities across four regions in the country. The communities will advance the nation’s construction and infrastructure sectors through strategic partnerships with local organizations, knowledge-transfer with world-leading entities, and the sourcing of local building materials.
Roshn aims to play an integral role in the delivery of PIF’s Saudi Real Estate and Infrastructure Development Investment Strategy whilst acting as an important catalyst for economic diversification. The communities will also make notable contributions to the GDP of Saudi Arabia and lead to significant job creation for Saudi nationals.
