ROSHN begins construction at its first residential project in Riyadh

ROSHN, the wholly-owned real estate unit of the Public Investment Fund (PIF), commenced construction at its first residential neighborhood, ROSHN Riyadh.

The project marks a new era for residential neighborhood in the Saudi capital, the company added on its Twitter account.

Late in November, ROSHN signed SAR 1.6 billion contracts to start contracting works for the first phase of its first residential project in Riyadh, according to data compiled by Argaam.

Earlier this month, the developer launched its first residential community in the north of Riyadh, on a total area of 20 million square meters.

The project, which is located close to King Khalid International Airport, comprises more than 30,000 residential units.

The project’s residential units will be available for off-plan sale during the first half of 2021.