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ROSHN, Saudi Arabia’s national real estate developer, has started the handover process at phase one of the Sedra development in Riyadh ahead of the scheduled time, the company said in a statement.
The start of the handover process makes it the first Saudi giga-project to deliver to customers, the developer said in a press statement.
Sedra is ROSHN’s first project in the Kingdom and is being developed over eight phases.
The project will add more than 30,000 residential units to the capital’s housing stock and provide 20 million square metres of integrated neighbourhoods supported by education and healthcare infrastructure, retail outlets, restaurants, parks, shaded footpaths, cycle tracks and green spaces on completion.
The developer, backed by Public Investment Fund (PIF), had launched the Alarous community development in North Jeddah in May.
Spread over 4 million sqm , Alarous will have more than 18,000 residential units and amenities such as parks, pedestrian walkways, bicycle paths, restaurants, cafes, schools and mosques.
(Writing by D Madhura; Editing by Anoop Menon)
