Public Investment Fund-backed real estate developer Roshn Group has broken ground on its Aldanah community, a new mixed-use development in Dhahran in the kingdom’s Eastern Province. The project will cover an area of over 1.7 million square metres and feature 2,000 housing units, which are expected to accommodate about 10,000 residents. The project will be located close to King Abdulaziz Road in Dhahran. Aldanah is Roshn’s sixth development in the kingdom and second in the eastern province after the Alfulwa community in Al Ahsa. In May last year, Roshn Group has awarded a $770m construction contract to the local contractor Building Construction Company for the Aldanah project. The scope of the contract covers the development, design and infrastructure works for 1,962 residential units in the Aldanah community in Dharan. Building Construction Company is a subsidiary of local real estate developer Retal Urban Development Company. The duration of the contract is 45 months from the start date of the land handover from the client to the contractor. The project is set for completion by 2028. Created in 2018 and backed by the Public Investment Fund, Roshn aims to increase homeownership rates among Saudi citizens to 70%. The company plans to develop more than 395,000 residential units in Riyadh, Mecca, Asir and the Eastern Region. Roshn is developing the Sedra community in northeast Riyadh. The community is masterplanned to include 30,000 homes built in eight phases.   For registration as a supplier: https://www.roshn.sa/partnerships (ICE RIYADH)

Fonte notizia: Meed