Riyadh – Mubasher: ROSHN, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), has signed contracts worth SAR 1.6 billion to start contracting work of Phase One of its first project in Riyadh city.

Rezaik Abdullah Algedrawy Contracting Company has been hired as the main contractor to develop part of the residential units from Phase One of ROSHN Riyadh, according to a recent statement.

ROSHN Riyadh comprises more than 4,000 units and will be developed by ROSHN and other real estate developers.

The signed contracts also include key strategic partnerships with Zuhier Ahmed Zahran & Co., Akaria Hanmi Company, POSCO E&C, AWJ International Holding Co, and C1 Company.

Off-plan sales for the residential units will start during the first half (H1) of 2021.