Roshn, Al-Mozaini sign SAR 223 mln contract to purchase land in Sidra project

Signing ceremony 

Roshn, the national real estate developer of residential areas, which is wholly owned by the Public Investment Fund (PIF), announced signing an agreement with Al-Mozaini Real Estate Co., to sell a land plot with an area of more than 54,000 square meters (sqm) with a value of more than SAR 223 million, as part of an ambitious plan to build integrated residential communities.

Sabah Barakat, Roshn COO, said, "We are working on developing urban concepts that reflect the standards of quality of life, and which are in line with the aspirations of the Saudi society, by relying on a talented team from among the best specialists and experts in development projects and in the construction sector in the region."

"We are also working on selecting the best real estate developers from the private sector, to cooperate in the construction and development of Sidra residential project in the capital. We focus our efforts in Roshn on attracting distinguished talents who have exceptional experiences in various fields, which enable them to provide creative ideas and innovative solutions that contribute to the development of integrated residential neighborhoods to the highest international standards," he added.

Al-Mozaini Real Estate CEO Wissam Al-Damiati said the signing is one of the achievements added to his company's operations, joining thousands of residential products that the company has implemented with the highest quality standards between residential units and developed lands.

The Sidra project is located on an area of more than 20 million sqm and includes more than 30,000 housing units. It offers various vital facilities such as mosques, kindergartens, public and private schools, hospitals, healthcare centers, shopping malls, retail places and more.