PIF’s ROSHN inks deal for 400 new homes

ROSHN is a key part of the Vision 2030 initiative. Shutterstock
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RIYADH: More than 400 single-family homes will be built in Saudi Arabia’s Eastern Province after real estate developer ROSHN Group signed a series of new agreements.

The deals include the design and construction of the properties, as well developing public facilities and services in the group’s ALFULWA residential community.  

ROSHN, which is wholly owned by the Public Investment Fund, said the partnerships will help build a prosperous and diversified economy that enhances local content and introduces new industries, as well as attracts strong investments and creates opportunities for entrepreneurs, the Saudi Press Agency reported.  

This falls in line with the giga-project’s role of being a vital enabler to achieve the goals of Vision 2030 through the expansion of the private sector and creating job opportunities.  

“Because our mission includes transforming the landscape of urban life in the Kingdom and contributing to achieving the goals of Vision 2030, partnerships are vital for our success as we seek to develop the Saudi economy, provide job opportunities and hone local talent and capabilities,” Group CEO at ROSHN David Grover said. 

He added: “While we are working to accelerate the pace of our projects throughout the Kingdom, we are at the same time preparing for the global event Expo 2030 here in Riyadh, which will be the focus of the world’s attention.”

Another deal was concluded with Saudi Ceramic Co. to elevate ROSHN’s current efforts in conserving water and energy.

“The partnerships we have announced will enhance our ability to offer the new lifestyle from ROSHN, achieving growth, diversifying the economy and raising the quality of life in the Kingdom,” the CEO underlined.

The signing of the deals came during the real estate developer’s participation in the PIF Private Sector Forum that took place in Riyadh on Feb. 6-7.

Affirming its commitment to fostering talent, ROSHN has also been recognized as top employer in Saudi Arabia for the second consecutive year, according to a statement.

The Top Employers Institute is one of the world’s most prestigious certifications in the field of human resources management.

“We are striving to be the most Admired Employer in Saudi Arabia, a commitment that guides us every day in finding innovative ways to better serve, support, and develop our employees,” Grover stressed.