Roshn Group, Saudi Arabia's leading multi-asset class real estate developer powered by sovereign wealth fund PIF, has signed a strategic agreement with Sateaa Altameer For Real Estate, to develop 108,000 sq m plot of land within Warefa community in Riyadh at a total investment of SAR548 million ($146 million).

Spanning over an area of 1.4m sq km, Warefa is designed to support social interaction through neighbourhood mosques, sports hubs, cycle lanes and homes built without perimeter walls.

Developed over six vibrant neighbourhoods, Warefa’s more than 2,300 units will be home to over 13,000 residents, helping to create a vibrant new quarter in eastern Riyadh.

On the strategic deal, Roshn said this partnerhip with Sateaa Altameer is aimed at contributing to the Group's vision of developing modern, integrated communities that provide an ideal lifestyle.

With Warefa, Roshn Group takes a significant stride in its journey to craft urban spaces that seamlessly blend modern living with sustainability and community well-being. About 11% of the total development is dedicated to open and green spaces. 

With a focus on villas and street-level family dwellings, Warefa’s eight different floorplan options and designs inspired by local heritage and tradition offer beautiful and distinctive homes tailored to the growing needs of every family – from 4-bedroom townhouses to 5-bedroom villas.-TradeArabia News Service