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Saudi Arabia: ROSHN Group Launches Sales of 4th Phase of Flagship Development 'SEDRA'

The new area will cover over 1.9 million square meters. SPA
The new area will cover over 1.9 million square meters. SPA
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Saudi Arabia: ROSHN Group Launches Sales of 4th Phase of Flagship Development 'SEDRA'

The new area will cover over 1.9 million square meters. SPA
The new area will cover over 1.9 million square meters. SPA

Saudi Arabia’s ROSHN Group announced on Monday the expansion of its popular "SEDRA" project in Riyadh with a new phase that adds 4,860 residential units.

The new area will cover over 1.9 million square meters and will be released in stages, with 1,254 units available for purchase in the first sale tranche, ROSHN Group said in a statement.

"The launch of sales for SEDRA 4 builds on the success of SEDRA’s first three phases and reflects the progress ROSHN has made in such a short period,” said ROSHN Group CEO David Grover.

“Meeting the unprecedented demand for ROSHN’s new way of living, SEDRA 4 blends modern, innovative, and sustainable design with unparalleled amenities, such as schools, a primary care hospital, and a district mall within a five-minute walk, to cultivate a vibrant community atmosphere."

According to the statement, SEDRA 4 has 4,860 new homes in its latest phase, featuring 30% of the phase’s footprint dedicated to public spaces. The latest expansion boasts the "Kingdom's largest Sports Dome" and includes amenities like green spaces, mosques and neighborhood retail centers.

Located north of SEDRA 3 and accessible via Airport Road, SEDRA 4 connects residents to ROSHN Front shopping, education, healthcare, and entertainment options, making it part of the vibrant North Riyadh area, near universities, the airport, and a train station, added the statement.

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Oil Prices Fall on Weaker US Consumer Demand, China Data

A pump jack drills oil crude from the Yates Oilfield in West Texas’s Permian Basin, near Iraan, Texas, US, March 17, 2023. REUTERS/Bing Guan/File Photo
A pump jack drills oil crude from the Yates Oilfield in West Texas’s Permian Basin, near Iraan, Texas, US, March 17, 2023. REUTERS/Bing Guan/File Photo
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Oil Prices Fall on Weaker US Consumer Demand, China Data

A pump jack drills oil crude from the Yates Oilfield in West Texas’s Permian Basin, near Iraan, Texas, US, March 17, 2023. REUTERS/Bing Guan/File Photo
A pump jack drills oil crude from the Yates Oilfield in West Texas’s Permian Basin, near Iraan, Texas, US, March 17, 2023. REUTERS/Bing Guan/File Photo

Oil prices slipped in Asian trading on Monday after a survey on Friday showed weaker US consumer demand and as May crude production rose in China, the world's biggest crude importer.
Global benchmark Brent crude futures for August delivery were down 29 cents, or 0.4%, at $82.33 per barrel at 0330 GMT. US West Texas Intermediate crude futures for July delivery were also down 29 cents at $78.16 a barrel, Reuters reported.
The more-active August delivery WTI contract slipped 0.4% as well at $77.76 per barrel.
That followed prices slipping on Friday after a survey showed US consumer sentiment fell to a seven-month low in June, with households worried about their personal finances and inflation.
However, both benchmark contracts still gained nearly 4% last week, the highest weekly rise in percentage terms since April, on signs of stronger fuel demand.
Meanwhile, China's May domestic crude oil production rose 0.6% on year to 18.15 million tons, according to data released by the National Bureau of Statistics on Monday.
Year-to-date output was 89.1 million tons, up 1.8% from a year earlier. National crude oil throughput fell 1.8% in May over the same year-ago level to 60.52 million tons, with year-to-date totaling 301.77 million tons, up 0.3% from a year ago.
The country's May industrial output lagged expectations and a slowdown in the property sector showed no signs of easing, adding pressure on Beijing to shore up growth.
The flurry of data on Monday was largely downbeat, underscoring a bumpy recovery for the world's second-largest economy.
On the geopolitical front, concerns of a wider Middle East war lingered after the Israeli military said on Sunday that intensified cross-border fire from Lebanon's Hezbollah into Israel could trigger serious escalation.
After the relatively heavy exchanges over the past week, Sunday saw a marked drop in Hezbollah fire, while the Israeli military said that it had carried out several airstrikes against the group in southern Lebanon.
Markets in key oil trading hub Singapore and other countries in the region were closed for a public holiday on Monday.