RIYADH: Saudi real estate developer ROSHN has announced its second residential community in eastern Riyadh’s Al Janadriyyah district in a move that will see homes provided for 13,000 residents.
The new WAREFA project will have integrated amenities including a district mall, primary healthcare facility, public and private schools, and multiple mosques.
The new project from the Public Investment Fund-owned developer will be built across 1.4 million sq. m, and it will have 2,000 homes.
“Al Janadriyyah is an area that has undergone rapid evolution in recent years, and WAREFA will provide an integrated, sustainable community with services and amenities to support the district’s growth,” said Group CEO of ROSHN David Grover.
He added: “We are excited to continue delivering on ROSHN’s mandate and expand ROSHN’s vision for new communities and lifestyles across our capital city.”
The press release noted that WAREFA will also contain 160,000 sq. m of public parks and open spaces.
The new development project will also make use of solar water heaters, efficient air conditioning devices, advanced plumbing fittings and advanced irrigation technology to save on water usage. (Supplied)
ROSHN added that WAREFA will be built following sustainability principles, and it will feature shaded footpaths and cycle routes, and links to public transport aimed to reduce the dependence on motor vehicles.
The new development project will also make use of solar water heaters, efficient air conditioning devices, advanced plumbing fittings and advanced irrigation technology to save on water usage.
In November 2022, ROSHN started the key handover at the first phase of development at SEDRA, ahead of the scheduled time.
In the same month, it also launched the first phase of its Al Arous project in Jeddah – The Bride of the Red Sea – which will offer more than 2,200 single-family units.
Earlier in January, the developer signed SR6 billion ($1.6 billion) worth of credit facilities deals with the Saudi British Bank, Bank Albilad, and Al Rajhi as part of its strategy to obtain external funding for its projects.
With a total value of SR2 billion each, it said the new credit facilities will constitute a fundamental change in the real estate sector as well as a basis for diversifying financing.
