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Saudi real estate developer ROSHN, which is backed by the Public Investment Fund (PIF), signed a conditional land plot sales agreement with Al-Habib Real Estate Company in the Sedra mega project in Riyadh.
The plot covers an area of more than 96,000 square metres, state-owned SPA news agency said in an Arabic report. The deal value wasn't disclosed.
The agreement aims to build more than 1,500 housing units in the second phase of Sedra.
ROSHN recently launched Warefa, a key residential project in Riyadh, featuring 2,000 housing units.
(Writing by D Madhura; Editing by Anoop Menon)
