Saudi PIF-backed developer ROSHN gets license for off-plan sales

The license will now enable the developer to begin off-plan sale of its first residential project “Al-Sidra Neighborhood” in Riyadh

  
A view The King Abdullah Financial District (KAFD) in Riyadh, Saudi Arabia. Image used for illustrative purpose.

A view The King Abdullah Financial District (KAFD) in Riyadh, Saudi Arabia. Image used for illustrative purpose.

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RIYADH: ROSHN, a real estate company owned by the Public Investment Fund, on Tuesday obtained a license from the Kingdom’s Wafi off-plan sales and rent program.

The license will now enable the developer to begin off-plan sale of its first residential project “Al-Sidra Neighborhood” in Riyadh.

Sidra comprises more than 30,000 housing units, with more than 4,500 houses to be built during the first phase, with an urban character and a Salmani architectural style inspired by Najd architecture, reflecting the identity of the city of Riyadh.

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