ROSHN signs deal with Al Akaria to build villas in Sidra for SAR 323.7 mln

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The Public Investment Fund-backed ROSHN Co. signed an agreement worth SAR 323.7 million with Saudi Real Estate Co. (Al Akaria) to build villas under Sedra mega project, state-run Saudi Press Agency reported.

Earlier this year, ROSHN purchased a land plot for SAR 142 million to build diversified communities, north of Riyadh.

ROSHN CEO David Grover said strategic partnerships are one of the key pillars to achieve the company's goals. He added that the agreement with Al Akaria aims to boost the government efforts of increasing home ownerships as well as developing the national real estate sector.

ROSHN contributed to providing a different lifestyle locally through the strategic partnerships it concluded with major consulting agencies, contracting companies, and suppliers.

This was supported by the company' comprehensive partnership program, which is based on strengthening the economy and national real estate sector through securing investment opportunities, developing supply chains and creating more job opportunities, the top executive said.

He added that the firm intends to develop more residential communities in Al-Kharj, Al-Hofuf, Al-Qatif, Makkah, and Abha.