ROSHN, Saudi Arabia announced the signing of a partnership with Retal Urban Development for the development of a new residential neighborhood consisting of 103 villas and townhouses within the first phase of SEDRA, the company’s first living community project in Riyadh.
The statement mentioned that, an extensive selection process was undertaken, and Retal were selected based on their track record of developing great homes as well as technical and commercial criteria. Retal is committed to creating state-of-the-art housing solutions for a modern, upscale, urban community development. In recognition of Retal’s achievements, they were the recipients of the Best Real Estate Developer Award in Saudi Arabia 2019 and 2020.
ROSHN and Retal share the vision of a highly sustainable and technologically modern approach to housing that will be key to the development of a modern lifestyle and community culture in SEDRA.
Abdullah Al-Braikan, CEO of Retal, said: “This partnership presents a very positive step for Retal. We are now working with a national real-estate development company towards a common goal: Building real estate projects that adhere to the highest technical standards and quality of life requirements, in accordance with Vision 2030.” He also added, “This partnership marks another achievement in our endeavor to raise standards in every Retal project.”
Commenting on the partnership, ROSHN Group CEO David Grover said: “At ROSHN we have a firm commitment to work closely with private sector developers, and I am very happy to see Retal joining us as our first such partner.
“I look forward to working closely Retal and all our future partners in our journey of delivering great communities across Saudi Arabia.”
Earlier during November 2020, ROSHN launched its first residential community in the north of Riyadh, on a total area of 20 million square meters. The new project, which is located close to King Khalid International Airport, comprises more than 30,000 residential units (read more).
