\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The initiative is the latest step in ROSHN\u2019s journey to become a multi-asset class real estate developer and manager of global significance
\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The acquisition enables ROSHN to offer residents of its adjoining SEDRA community access to new amenities, retail promotions, and loyalty schemes
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Riyadh, 13 December 2022: ROSHN, the national real estate developer bringing a new way
of integrated living to the Kingdom, has expanded its footprint in Riyadh by acquiring Riyadh Front\u2019s shopping and business areas, located adjacent to ROSHN\u2019s flagship development, SEDRA. The purchase of existing commercial and retail space from Riyadh Front Company is a first for ROSHN, and the latest step in its journey to becoming the region\u2019s biggest multi-asset class real estate developer.
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\u2018As a national developer with a long-term vision, we see a unique opportunity to integrate the world class commercial and retail real estate of Riyadh Front with our groundbreaking SEDRA community, providing residents with improved access to amenities, exclusive promotions, rewards programs, and e-commerce options. The potential synergies are immense,\u2019 said David Grover, ROSHN\u2019s Group CEO.
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To ensure best-in-class service levels to tenants and visitors to Riyadh Front, ROSHN has struck a property management agreement with its original developer, Kaden Investment. Riyadh Front was opened by Kaden in 2019, and since then it has become a key attraction in Riyadh\u2019s commercial and retail landscape. Riyadh Shopping Front is a mixed-use lifestyle mall of approximately 80,000 square metres that includes a diverse range of tenants such as Vox Cinemas, Magic Planet, Urrth Caf\u00e9, Huawei, Alfa Foods, Amazon and IWG Spaces.\u00a0 It receives over 10 million visitors annually. Riyadh Business Front is a gated corporate campus of approximately 80,000 m2, with a rent roll of blue-chip tenants that includes KPMG, Deloitte, Servcorp, SEVEN, Monshaat, Noon, SNC Lavalin, and STC. Located adjacent to the shopping area, Business Front features world-class modal workspaces, 1 km of walking promenade and green spaces, and state-of-the-art facilities such as a fitness centre, 4-star hotel and meeting rooms, conference halls, and a nursery.
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The mixed-use assets of Riyadh Front will complement the array of amenities being developed by ROSHN at its adjoining SEDRA community, which will bring 30,000 new homes to the market when its eight phases of development are complete. Residents of SEDRA benefit from a combination of features that is unique in the market, including design that blends traditional forms with cutting edge technology, a network of green and open spaces, a \u2018living environment\u2019 with pedestrian-friendly streets, long-term maintenance and management frameworks, and walkable access to a range of health, education, retail, entertainment, and sport facilities.\u00a0 Residents are due to move into their new homes in SEDRA Phase 1 this month, and ROSHN has already launched sales for SEDRA Phase 2, which will add more than 2,100 new homes to the community, over an area of 3.6 square kilometres.<\/p>\n\n\n\n
ROSHN is a national real estate developer, powered by Saudi Arabia\u2019s Public Investment Fund (PIF). It has a mandate to deliver high-quality living standards to Saudis and support government efforts to increase rates of home ownership. ROSHN builds communities on an area of more than 200 million square meters, acting as the master developer, property developer and operator across a broad range of asset classes and land uses, including residential, retail, commercial, hospitality and public\/civic facilities.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The initiative is the latest step in ROSHN\u2019s journey to become a multi-asset class real estate developer and manager of global significance\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The acquisition enables ROSHN to offer residents of its adjoining SEDRA community access to new amenities, retail promotions, and loyalty schemes\u00a0Riyadh, 13 December 2022: ROSHN, the national real estate developer bringing a […]<\/p>\n","protected":false},"author":10,"featured_media":38692,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":24,"_extra_hide_author_box":"","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-38691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\n