Roshn signs framework agreement with local firm
19 February 2025
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Saudi Arabian gigaproject developer Roshn has signed a framework agreement with Al-Khobar-based firm Al-Tamimi Contracting to undertake several infrastructure projects for Roshn's developments.
The agreement was signed during the third edition of the Public Investment Fund Private Sector Forum, held on 12-13 February in Riyadh.
"The agreement aims to deliver best-in-class infrastructure work for residential and commercial projects, to meet housing demand across the kingdom," Al-Tamimi Contracting said in an official statement.
The agreement follows Roshn awarding contracts worth an estimated SR1.9bn ($500m) to several contractors for construction works on upcoming packages at the Sedra community in Riyadh.
The first contract, valued at SR720m ($192m), was awarded to Beijing-headquartered China Harbour Engineering Company for the construction of 368 residential units in the Sedra community.
A SR650m ($173m) deal was awarded to Riyadh-based contractor Sarh Attqnia to develop 968 residential units and sports facilities.
Another estimated SR400m ($106m) contract was awarded to Al-Khobar-based Building Construction Company to develop 740 residential units.
Roshn also signed a SR130m ($34m) contract with Riyadh-based Development Works Company to build Sedra’s first retail mall.
The recent agreements are in line with Roshn’s strategy to strengthen the kingdom’s construction sector by balancing project demands with long-term sustainability and market growth.
Created in 2018, Roshn aims to increase the homeownership rate among Saudi citizens to 70% by 2030.
The company plans to develop more than 395,000 residential units in communities in Riyadh, Mecca, Asir and the Eastern Region.
Roshn is developing the Sedra community in northeast Riyadh. It is masterplanned to include 30,000 homes in eight phases.
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Modon tenders Ras El-Hekma construction contracts
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Abu Dhabi-based developer Modon Holding has tendered several contracts as part of the first phase of development at Ras El-Hekma, a planned new city on Egypt’s Mediterranean coast.
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Modon has accelerated development works at Ras El-Hekma this year. In January, MEED reported that Modon Holding had awarded a E£15bn ($316m) contract for the construction of a project at Ras El-Hekma.
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Chinese firm wins Ceer automotive supplier park deal
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