Retal Urban Development Company has signed a partnership agreement with Roshn – the National Master Developer of residential areas and a PIF-owned company – to develop residential units as part of Phase I of the Sedra project in Riyadh.
Retal’s assignment followed an extensive screening process through which Retal was selected based on the technical and commercial criteria set by Roshn. In addition to its track record in developing housing units, Retal was named by the National Housing Company as the Best Real Estate Developer in the Kingdom in both 2019 and 2020.
Eng. Abdullah Albraikan, CEO of Retal, stated that this partnership is a significant step for Retal, as we will work with a national real estate development company to achieve a common goal that meets the aspirations of urban development set forth by Vision 2030, which encourages the establishment of residential communities that can satisfy the highest requirements of quality of life. He added that this partnership is another achievement for Retal in its quest to raise standards in every project it implements.
For his part, David Grover, CEO of Roshn Group, said: “At Roshn, we have a firm commitment to work closely with private sector developers, and I am very happy to see Retal joining us as our first such partner. I look forward to working closely Retal and all our future partners in our journey of delivering great communities across Saudi Arabia.”
Set in an area of over 20 million square meters, the Sedra project consists of more than 30,000 housing units, as well as various vital facilities, including mosques, kindergartens, public and private schools, hospitals, healthcare centers, shopping centers, retail outlets, and much more.