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Alramz Real Estate Company has signed an agreement to purchase and develop two residential plots from ROSHN Group, a Public Investment Fund (PIF)-owned company within the Sedra mega project in Riyadh.
A total of 240 residential units will be developed on a land plot of 14,128 square metres (sqm), Alramz said in a statement to the Saudi stock exchange.
The contract is valued at 91 million Saudi riyals ($24.27 million) and has a 36-month duration from land handover, covering design and construction in accordance with approved plans and specifications.
The deal is expected to boost Alramz’s financial performance between 2026 and 2028, the statement said.
In October 2025, a subsidiary of Retal Urban Development Company signed a contract with ROSHN to design and construct six residential buildings in Sedra.
ROSHN has awarded new contracts worth SAR1.5 billion ($400 million) for over 1,900 homes and retail units in the Sedra community.
(Writing by P Deol; Editing by Anoop Menon)
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