Dubai (PlantAndEquipment.com) - ROSHN Group and Talaat Moustafa Group Saudi (TMG) have agreed to form a joint venture to study and construct a large residential-led mixed-use development in Riyadh, with preliminary designs for about 55,000 homes.

The project is anticipated to be completed in stages and will include housing, retail, offices, hotels, recreational facilities, healthcare, schools, parks, and public spaces.

According to the agreement, ROSHN and TMG will proceed with extensive master planning and the development of the project's business case. The ultimate development scope is still being evaluated.

The partnership will combine property from ROSHN's Saudi holdings with TMG's expertise building large-scale integrated communities around the region.

The projected development will bring another major residential pipeline to Riyadh as the Saudi capital builds its housing and supporting infrastructure in accordance with Vision 2030.