ROSHN, the PIF-backed national real estate developer with a number of residential megaprojects underway across the kingdom’s major cities, has announced the signing of seven agreements worth a total of US$2.13 billion to develop infrastructure and facilities across its communities in the country.
According to a Saudi Press Agency report, the contracts signed aim to develop a number of utilities and facilities across ROSHN’s communities around the kingdom. They include the development and construction of various types of housing units, infrastructure, agricultural nurseries, and schools.
Oussama Kabbani, chief development officer at ROSHN, said that the accelerated pace of work in ROSHN is a motivation to cooperate with various partners to achieve the company’s broad ambitions, the report added.
A key part of Saudi Arabia’s Vision 2030, ROSHN aims to increase the rate of homeownership in Saudi Arabia to 70% within the next 10 years. Chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister and Chairman of the Council of Economic Development Affairs, the national community developer has been mandated to improve the quality of life for Saudi residents, provide jobs and create opportunities nationwide.
Rapid expansion across Saudi Arabia
The developer has four developments underway in the kingdom – SEDRA, ALAROUS, WAREFA, and ALFULWA. By 2030, it estimates that it will have 200 million sq. m of neighbourhoods developed, spread across nine cities and four regions.
In an upcoming exclusive interview with Construction Week Middle East, David Grover, Group CEO of ROSHN, revealed that the company intends to invest up to $109 billion by 2030 to build the communities, which will accommodate well over a million people.
Grover also stated that the company intends to rapidly expand in the short-to-medium term, with communities under development in Makkah, Riyadh, the Eastern Province, and Asir.
Earlier this month, ROSHN launched WAREFA, its second residential community in Riyadh, and its third overall in Saudi Arabia. Based in the Al Janadiriyaah district of the Saudi capital, the development will be built with the developer’s key design principles in mind.
These include focusing on the provision of high-quality housing connected to a range of integrated amenities and public spaces to form vibrant, liveable communities. It will have a total footprint of 1.4 million square metres, and will contain more than 13,000 inhabitants housed in over 2,000 residential units.
Along with a district mall, primary healthcare facility, public and private schools, and multiple mosques, the development will also contain 160,000 sq. m. of public parks and open spaces to enhance the wellbeing of residents and ensure their needs can be met within a few steps of their homes, the developer added.
Showcasing cultural and geographical heritage
ALFULWA, the developer’s fourth residential community in the kingdom, covers an area of more than 10.8 million sq. m and is located seven kilometres from the centre of Al Hofuf city, the major urban centre in the Al-Ahsa Oasis in the Eastern Province.
The project will feature more than 18,000 residential units with a population capacity of over 100,000 people. It extends ROSHN’s vision of promoting the concept of sustainable housing and making it available to the largest possible segment of the Saudi society.
In its design and construction, ALFULWA adheres to the developer’s sustainability principles, contributing to a 18% reduction in energy consumption costs. In addition, the project incorporates architectural features distinct to the Eastern Province, combining horizontal grooves and carefully crafted details, making it an ideal example of traditional architecture.
Built near Dakhna Mountain and Al Qarah Mountain, ALFULWA project aims to showcase the cultural and geographical heritage of the region, while also providing a mix of urban facilities amidst mountainous nature.
Source: Construction Week Middle East