Saudi Focus

Sedco wins housing project

July 2015

Sedco Development, a key developer in Saudi Arabia, has been awarded a contract for the construction of Gardenia Residence, a project in Jeddah owned by the AlAhli Sedco Residential Development Fund in partnership with Ghoneim International Company.

It is a subsidiary of Sedco Holding Group and the prime developer of AlAhli Sedco Residential Development Fund.

The project work will be completed by the end of 2016, stated Khalid Assad Jamjoom, CEO of Sedco Development, after signing the contract with Al Said Ghoneim, the general manager of Ghoneim International Company.

Gardenia Residence is spread over a 26,000-sq-m area located on the west of Madinah Road, which was previously acquired by the Fund through Sedco Development.

The project accommodates more than 370 types of residential units that cater to the needs of residents as part of the growing demand in Jeddah’s real estate sector.

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