Roshn, a leading Saudi real estate developer and PIF-funded giga-project, has awarded over 9 billion riyals ($2.4bn) worth of contracts linked to construction, primary and secondary infrastructure and fittings work in its premium community development projects coming up across the kingdom.
The deals were inked with top Chinese and Saudi companies on the sidelines of the debut edition of Cityscape Global which opened its doors yesterday in Riyadh.
The first contract, worth 7.7bn riyals, has been awarded to China Harbour Engineering Company for the construction of 6,700 residential units as well as retail and supporting public amenities including mosques and community centres at Roshn’s Sedra and Warefa communities in Riyadh.
Roshn said this commercial contract was the largest in value to be announced among all Saudi giga-projects till date and the entire work would be completed within a 45-month period.
The second deal, worth 690 million riyals, was sealed with Saudi group PC Marine Services for canal and bridge construction in Roshn’s recently announced Marafy community, which connects to Alarous in Jeddah.
The third contract was awarded to Saudi Abyat for the design and supply of around 12,000 kitchens with high-quality design, construction, and fittings in several upcoming Roshn communities.
The last deal worth 840m riyals was sealed with Saudi Pan Kingdom Company covering primary and secondary infrastructure works in Roshn’s upcoming and yet-to-be announced communities in the kingdom’s western regions.
On the massive deals, CEO David Grover said: “Here at Cityscape, I am very proud to announce multi-billion commercial partnerships, including the largest among Saudi giga projects. At Roshn, we form commercial partnerships to harness both Saudi and international expertise, ensuring our residents and communities consistently benefit from our unwavering efforts to elevate the kingdom’s construction and real estate sector.”
“These agreements are paramount in fortifying our supply chains and maintaining the unmatched pace and magnitude of delivery expected of Vision 2030,” stated Grover.
“They serve as conduits for driving Foreign Direct Investment (FDI) into Saudi Arabia and for bolstering local suppliers by weaving them into our flagship projects. In essence, these commercial partnerships epitomise our shared vision, dedication, and ambition to craft transformative, sustainable, people-centric communities,” he noted.
“While our primary focus remains delivering unparalleled value to our customers, we simultaneously fuel the national economy and pave the path to realising Vision 2030,” he added.