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Saudi PIF-backed ROSHN Group awards $57mln contract to Dar Al Arkan

PIF-backed Saudi developer ROSHN Group has signed a deal worth over 215 million riyals ($57 million) with Dar Al Arkan to develop residential villas.

The two developers have signed a sale and purchase agreement, following a similar agreement last year, that will see Dar Al Arkan acquire and develop residential villas in phase 1 of Sedra development, a statement from ROSHN said on Monday.

Sedra is ROSHN’s first project in the kingdom and is being developed over eight phases.

Link: https://www.zawya.com/en/business/real-estate/saudi-pif-backed-roshn-group-awards-57mln-contract-to-dar-al-arkan-r0cclfoh

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