Roshn Group, a leading Saudi developer powered by sovereign wealth fund PIF, has signed agreements worth SAR1.191 billion ($317.2 million) to develop prime plots of land within the Sedra residential community in Riyadh.

One of the most sought-after residential developments in the Saudi capital, Sedra is spread across an area of 20 million sq m. 

The first deal was inked with Arabian Dyar, a pioneering real estate group, to develop a 55,000-sq-m land plot. Under this, the project will focus on delivering quality residential offerings designed to meet the needs of modern families. 

With a strong emphasis on sustainability, innovation, and lifestyle-focused planning, the development aims to provide residents with a vibrant and well-connected environment.

Earlier, ROSHN had signed similar agreements with real estate groups Tiraz Al Arabia and Alramz Real Estate to develop integrated commercial facilities within the Sedra community.

Alramz said its deal worth SAR91 million was for the purchase and development of two residential plots in Riyadh. 

As per the deal, a total of 240 residential units will come up on these plots spanning a total area of 14,128 sq m, it added.