Shapoorji Pallonji, a major Indian construction and real estate conglomerate, said it has secured a SR3 billion ($798 million) contract from PIF-backed entity Saudi Entertainment Ventures (SEVEN) to build the first of 21 planned fun parks in the kingdom.
December 31, 2020
ROSHN, Saudi Arabia’s national community developer powered by the Public Investment Fund (PIF), Urban Design Master Plan.
RIYADH ROSHN, Saudi Arabia’s national community developer powered by the Public Investment Fund (PIF), has announced new partnerships with Shapoorji Pallonji Mideast and Siemens Ltd. to support the development of the first phase of its first landmark Riyadh community development.
Continuing the development of the first phase, ROSHN has partnered with Shapoorji Pallonji Mideast to construct 3,000 homes along with associated utilities, roads and landscaping.
The contracts, which are valued at SR1.9 billion, are key development pillars in the construction of the Riyadh community, the first to be launched by ROSHN as part of its mandate to contribute to the increasing demand for accessible homes across Saudi Arabia.