• Business

PIF-Owned Real Estate Firm ROSHN Initiates Sales for SEDRA Phase 3

by Swati Gupta

October 1, 2023 7

Saudi real estate developer ROSHN has announced the expansion of its presence within the Kingdom with the commencement of sales for the third phase of its flagship development, SEDRA, situated in Riyadh. This venture, backed by the Public Investment Fund (PIF), introduces 3,438 new residences and a diverse range of amenities within the expansive 20 million square-meter residential project.

Prospective residents of SEDRA Phase 3 will be offered an extensive selection of floor plans and facades, as reported by the Saudi Press Agency. These choices encompass single or multi-family configurations, three- and four-bedroom townhouses, duplexes, as well as spacious four- and five-bedroom villas.

With this project, the ROSHN Group aims to address the increasing demand for contemporary and sustainable living spaces in the Kingdom. David Grover, CEO of ROSHN Group, highlighted the significance of launching the sales for this new development, emphasizing the company’s commitment to improving living standards in alignment with Saudi Vision 2030.

The newly unveiled development boasts advanced insulation, solar-powered water heaters, and energy-efficient air-conditioning systems, contributing to significant energy and water conservation. Additionally, the project dedicates 12 percent of its total area to open and green spaces, providing residents with the opportunity to immerse themselves in the natural beauty of the community, including a wadi (valley) and an acacia forest.

Situated in the northern region of Riyadh, SEDRA offers convenient access via Kaden Road, with nearby metro stations F2 and A7, as well as key landmarks such as the SAR railway station, Princess Nourah University, Imam Mohammed Ibn Saud University, and King Khalid International Airport. The development also provides direct access to ROSHN Front’s shopping, leisure, and business areas, fostering an integrated “live, work, play” lifestyle.

SEDRA’s master plan spans eight phases, with the potential to add over 30,000 residential units to Riyadh’s housing inventory. Each phase incorporates elements of nature and local heritage into its design, representing a fusion of tradition and modernity. This development aligns with the objectives of Saudi Vision 2030, which seeks to elevate living standards throughout the Kingdom.

ROSHN’s ambitious plans for the year 2030 include the development of more than 400,000 homes, along with the establishment of 1,000 kindergartens and schools, as well as over 700 mosques. In a recent endeavor, ROSHN launched MARAFY, a mixed-use development located in northern Jeddah. This project includes the Kingdom’s inaugural canal project linked to the Red Sea and encompasses over 300 square kilometers of waterfront promenade, covering a total area exceeding 2 million square meters.