Wednesday 29 March 2023

Ajdan and Roshn to develop 270-villa project in Riyadh

RIYADH, Saudi Arabia, December 19, 2022

Ajdan, a leading Saudi developer, has announced its collaboration with Roshn, a PIF-backed giga-project developer, to sub-develop over 270 villas within Roshn’s mixed-used community Sedra in North East Riyadh.

Ajdan has signed an agreement to develop and market a total of 80,754 sq m plot of land within Sedra’s prime locations, which will allow it to design, build and sell modern, contemporary premium villas to high quality standards.

Sedra, one of Riyadh’s most highly anticipated developments, will be home to over 2,100 residential units, public parks, playgrounds, entertainment areas, retail, community centres, schools, a sports hub, mosques, health clinics, and an abundance of restaurants and cafes once completed.

Located north east of Riyadh within close proximity to the main roads and south of King Khalid International Airport, Sedra’s strategic location will make it a hotspot for locals and visitors alike.

“We are very excited about our collaboration with Roshn, delivering our high-quality residences to the Riyadh community which defines us further as a leading Saudi developer of choice to have partnered with one of The Kingdom’s foremost giga project developers,” said Ajdan’s CEO Mohammed Abdulmohsen Al Otaibi.

“By partnering with leaders in the real estate arena, like Ajdan, we ensure that the residents of our communities have access to the best products and services that the industry has to offer. Like us, Ajdan is introducing new living experiences to the Saudi housing market, and their villas will perfectly complement our design vision of open, integrated communities supported by a world-class array of amenities,” said Roshn Group CEO, David Grover.

Ajdan’s project portfolio is currently focused on three main cities: Al Khobar, Riyadh and Jeddah - with plans on the horizon for rapid expansion into other cities and regions of Saudi Arabia.

In Al Khobar, its developments span Ajdan Waterfront (including the popular Ajdan Walk and soon to open Fairmont Hotel), Bayfront, and now, Infiniti by Ajdan. Expansion plans include developments in Riyadh and Jeddah to follow.

Ajdan Walk, the first completed component of the Ajdan Waterfront development, opened in 2019 and has since proven a huge success. The now-bustling Ajdan Walk enjoys a unique location in the heart of Al Khobar and It features the first food village in the eastern province with many leading international food brands located in and around Boulevard Street.

In partnership with internally renowned architecture firm, Benoy, Ajdan created a hybrid cultural space that effortlessly integrates a premium retail, entertainment and F&B offerings with the essence of Al Khobar. The wider Ajdan Waterfront development also includes the breath-taking Ajdan Rise and Fairmont Ajdan.

Ajdan recently announced the SR250 million ($66.5 million) Bayfront project in Al-Khobar. Bayfront will be a mixed-use project located on the northern part of Al-Khobar’s beach, spanning over 100,000 sq m. – TradeArabia News Service



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