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Saudi Arabia's Public Investment Fund-backed real estate developer Roshn is pushing ahead with the development of several integrated residential communities in the kingdom. 

Like everyone else, the company admits to facing pressing challenges in meeting the aggressive delivery timelines.

"The pressure to deliver projects under an agreed timeline is causing a lot of stress to the market," said Oussama Kabbani, Roshn group chief development officer, at the MEED Saudi Giga Projects 2024 event in Riyadh.

This, however, provides opportunities to foster innovation and collaboration.

"We have responded to these challenges by adopting modern methods of construction to speed up delivery and increase efficiency, including precasting methods and working closely with the supply chain."

Roshn has entered into several mass project agreements with the supply chain to secure prices and tackle inflation.

The client expects a healthy real estate demand for its segment.  

"We have finished the first phase of Sedra, phase two is under construction and phases three, four and five will be developed shortly," Kabbani added. "The project's next phases will be developed depending on market conditions."

Roshn schemes

Roshn is developing several other real estate schemes across the kingdom. In April, Roshn launched Aldanah, a new mixed-use development in Dhahran in the kingdom’s Eastern Province.

The project will cover an area of over 1.7 million square metres and feature 2,500 housing units, which are expected to accommodate about 10,000 residents.

The project will be located close to King Abdulaziz Road in Dhahran.

Aldanah is Roshn’s sixth development in the kingdom and second in the Eastern Province after the Alfulwa community in Al Ahsa.

The announcement followed the launch of the Almanar project, a new mixed-use development in Mecca, in April. The first phase will be built over an area of 2.5 million sq m. It will comprise 4,149 residential units, including three- to five-bedroom townhouses, duplexes and villas, catering to over 17,000 people.

Almanar will be located at the western gate of Mecca, between the old and new expressways linking Mecca and Jeddah.

Almanar is the developer’s first venture in Mecca.

Created in 2018, Roshn aims to increase homeownership rates among Saudi citizens to 70%.

The company plans to develop more than 395,000 residential units in Riyadh, Mecca, Asir and the Eastern Region.

Roshn is developing the Sedra community in northeast Riyadh. The community is masterplanned to include 30,000 homes built in eight phases.

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