“Roshen”, owned by the Investment Fund, chooses the first real estate developer in the Sidra project

“Roshan”, the national real estate developer of residential areas and one of the wholly owned subsidiaries of the Saudi Public Investment Fund, announced yesterday, Thursday, the signing of a partnership agreement with Retal Urban Development Company to build 103 housing units within the first phase. of the Sidra project in Riyadh.

This comes after an extensive screening process, for which Retal Urban Development was chosen in based on the technical and commercial criteria indicated by Roshan, in addition to his primacy in the construction of housing units, where he received the award for the best property developer in the Kingdom for the years 2019-2020.

Rochen Group CEO David Grover said: “We are committed to working closely with private sector developers and are delighted to see Retal join us as the first real estate developer. in all over the Kingdom “, according to the Saudi news agency,” SPA. “

For his part, the managing director of Retal, Ing. Abdullah Al-Braikan, said that this partnership is a good step for Retal, “since we are working with a national real estate development company to achieve a common goal to satisfy the aspirations of citizens developing within the Kingdom’s Vision 2030 methodology, which encourages the establishment of housing communities aims to achieve the highest quality of life requirements “, adding that this partnership is” another achievement that we add to our list of results in our quest to elevate standard in every project carried out by Retal. “

Interestingly, the Sidra project is located on a ‘area of over 20 million square meters and includes more than 30,000 housing units and has various vital facilities such as mosques, nurseries, public schools and private, hospitals, health care facilities, service centers, shopping malls, retail locations and more.

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