Latest news with #ROSHN
Zawya
2 days ago
- Business
- Zawya
Saudi's ROSHN building local supply chain to minimise external risks: Report
Saudi developer ROSHN, backed by the Public Investment Fund (PIF), said it is building local supply chains to minimise exposure to external risks, primarily the US-proposed reciprocal tariffs. The company has signed long-term procurement agreements to secure essential building materials at competitive prices, Argaam, an Arabic financial portal, reported, quoting Head of Strategy & Corporate Affairs Yassen Kattan. These deals offer suppliers a detailed view of ROSHN's needs over the next 10 to 15 years, he added. Kattan stated that the Saudi construction sector is expected to grow at an annual rate of 5.4% between 2026 and 2029, driven by ongoing transformation initiatives. In 2024, the developer awarded 71 percent of its contracts to local entities, the report said. (Editing by Anoop Menon) (
Argaam
2 days ago
- Business
- Argaam
ROSHN aims to develop 400,000 units, awards 71% of contracts locally
ROSHN Group aims to develop 400,000 residential units and mixed-use projects, adding that contracts for the Northern Riyadh-based SEDRA development have exceeded SAR 19 billion. In an interview with Argaam, ROSHN said it supports the localization of supply chains. Around 71% of its 2024 contracts were awarded to domestic firms, while local developers have invested an estimated SAR 2 billion in the Public Investment Fund (PIF)-backed company's projects. Achieving supply-demand balance is deemed a core pillar of ROSHN's strategy. It conducts analytical studies before launching any project and coordinates with authorities to align developments with market needs. ROSHN also supports efforts targeting sector regulation. It also plays part in addressing rising prices in Riyadh by offering integrated, diversified housing options aimed at enhancing affordability and stabilizing prices. What is the size of ROSHN Group's investments in the Saudi real estate market to date? What are its investment plans going forward? The group aims to develop 400,000 housing units, in addition to destinations and other mixed-use projects. ROSHN continues to inject significant capital into its Saudi real estate portfolio. In its flagship project SEDRA, located in northern Riyadh, the total contracts signed to date have exceeded SAR 19 billion. These cover construction and infrastructure works, including residential units, educational facilities, and retail spaces. Contracts were awarded to leading Saudi companies, as well as international firms operating locally. This supports national capacity building and boosts local content. The first phase of the SEDRA community has been completed. On the financing side, ROSHN secured SAR 9 billion in September 2024 from a consortium of local banks. An additional SAR 2 billion was raised to accelerate commercial and retail works at the ROSHN Front development in Riyadh. How does ROSHN work to balance supply and demand in the housing market, especially in major cities with growing populations? Supply and demand balance is fundamental to ROSHN's long-term strategy, particularly in high-growth cities experiencing rapid population increases. The company works in close coordination with authorities, municipalities, and other developers to ensure its projects complement current and future housing needs. Prior to any project launch, ROSHN conducts detailed data-based analysis to assess the existing housing supply, ongoing developments, and projected demand in the target area. It also analyzes market structure, including demographics, growth rates, and pricing trends. This is part of its commitment to delivering housing solutions that reflect community needs and national priorities. In light of Crown Prince directives to rebalance the real estate sector and address rising land and rent prices in Riyadh, what role does ROSHN play in supporting this regard? ROSHN plays a pivotal role in supporting sector regulation and addressing challenges related to housing supply and price balance. Its projects offer a wide range of residential options with various spaces, designs, and price points, catering to different segments across the Kingdom. These developments are integrated with commercial, educational, and entertainment facilities. The group seeks to facilitate local homeownership through strategic partnerships with leading financial institutions. A key example is its collaboration with Saudi Awwal Bank (SAB), enabling clients to convert cash purchases into bank financing. ROSHN is also expanding its portfolio to include assets in hospitality, sports, and retail. To what extent do ROSHN's projects contribute to direct and indirect job creation? Are there training and development programs for national talents within these projects? ROSHN's projects across the Kingdom have created over 200,000 direct and indirect jobs. The group invests in training and development programs to build local cadres that are capable of leading the sector's future. Saudization rates across its operations currently exceed 70%. ROSHN also works to localize its supply chains. In 2024, 71% of the group's contracts were awarded to local entities, while local developer investments reached SAR 2 billion. In the design sector, ROSHN launched the MUSAHAMA program in partnership with PIF. This initiative aims to showcase local design talents and expand the use of national resources. The program's first edition launched earlier this year, honoring emerging Saudi architects and local design firms for their innovative ideas. ROSHN contributed to the acceleration of the Kingdom's construction sector. The Ministry of Investment's data showed that 380 building permits were issued in 2024 alone, reflecting strong market momentum and increased investor confidence. The sector is expected to post an annual growth rate of 5.4% between 2026 and 2029, driven by the ingoing transformation initiatives. Given the ongoing tensions surrounding US tariffs, are there concerns about potential impacts on construction materials and supply chains? ROSHN focuses on building local supply chains and establishing long-term partnerships with domestic manufacturers and suppliers. This in turn supports the local construction sector and minimizes exposure to external risks. The group has signed procurement agreements with strategic partners to secure essential building materials at competitive prices and high quality. These deals are based on clear, long-term planning and offer suppliers a detailed view of ROSHN's needs over the next 10 to 15 years. Such transparency enables suppliers to invest and expand capacity inside the Kingdom in line with the group's growth trajectory. ROSHN incorporates local-made materials in its approved construction standards and works with international partners to localize manufacturing when needed. One example is its partnership with China Harbour Engineering Arabia Co. Ltd., resulting in the creation of an advanced precast facility in Riyadh in 2023. The facility is part of a SAR 7.2 billion contract. As part of its commitment to local content and integrated national supply chains, the PIF-backed developer launched the ROSHN Supply Chain Forum in 2024, bringing together contractors, consultants, and manufacturers to explore collaboration opportunities within its developments.
Argaam
2 days ago
- Business
- Argaam
ROSHN launches 1,000-unit project in Dhahran
ROSHN Group, a real estate developer backed by Saudi Arabia's Public Investment Fund (PIF), launched the first phase of sales for its new residential community 'ALDANAH' in Dhahran. The phase comprises over 1,000 units and is part of a larger master-planned project that will deliver more than 2,000 homes once completed. ROSHN said the first phase includes a range of floor plans and architectural designs, featuring both standard and premium villas, as well as duplexes. The project includes various amenities and dedicates more than 145,000 square meters to green spaces and pedestrian areas. ALDANAH is located at the confluence of Dammam, Dhahran, and Al Khobar, next to King Abdulaziz Road and about 35 minutes from King Fahd International Airport.
Leaders
05-06-2025
- Business
- Leaders
ROSHN Partners with Singapore Cooperation Enterprise to Drive Real Estate Innovation
ROSHN Group, a Public Investment Fund (PIF) subsidiary, has signed a memorandum of understanding (MoU) with the Singapore Cooperation Enterprise (SCE) to promote innovation and collaboration in the real estate sector. The agreement focuses on fostering institutional partnerships, sharing best practices in urban governance, and developing frameworks for joint efforts in urban planning and commercial procurement. The MoU was signed during a visit by ROSHN representatives to Singapore as part of the Group's 'ROSHNEXT' innovation program. The visit aimed to explore cooperation opportunities with Singaporean government bodies, academic institutions, and private-sector entities active in the real estate industry. Throughout the visit, ROSHN engaged with leading researchers, policymakers, and industry professionals to exchange expertise and explore areas for long-term collaboration. Discussions centered around applied research, skill development, and the potential for joint innovation programs. Topics also included cutting-edge approaches to urban planning, engineering, infrastructure, and property technology. Yassen Kattan, ROSHN Group's Executive Director of Strategy and Corporate Affairs, emphasized that the partnership with SCE marks a significant step toward sustained innovation. He highlighted the collaboration's role in integrating advanced solutions into the design, development, and operation of urban communities, supporting Saudi Arabia's broader goal of building a knowledge- and innovation-driven economy. Related Topics: ROSHN Green Initiative Center: Inspiring Future Environmental Leaders Saudi Arabia Welcomes Foreign Real Estate Investors Outside Holy Cities All You Need to Know about Hajj Rituals: A Step-by-Step Guide Discover Top Hotels Near Masjid Al-Haram for Hajj 2025 Short link : Post Views: 8
Khaleej Times
29-05-2025
- Business
- Khaleej Times
Storyfiner launches strategic storytelling solutions to support GCC startups, government initiatives
In a move aligned with the Gulf region's push for economic diversification and innovation, Storyfiner has launched a suite of strategic storytelling and communication solutions tailored for startups, SMEs, and government-affiliated organisations. The UAE-based firm specialises in investor-ready presentations, pitch decks, branding communication, and narrative design, helping organisations across the GCC clarify complex ideas and engage audiences effectively. As regional governments shift focus from oil-based economies to innovation and entrepreneurship, Storyfiner has supported several initiatives that align with national transformation agendas. Recent collaborations include working with ROSHN in Saudi Arabia to mentor startup cohorts and supporting a Dubai-based mobility accelerator in refreshing its investor communications. A cybersecurity incubator in the region also partnered with the firm to amplify its digital presence and stakeholder engagement. 'Our mission is to empower organisations with the tools to tell their story clearly and confidently,' said a spokesperson from Storyfiner. 'Whether it's for funding, public engagement, or brand positioning, we make communication strategic and effective.' This initiative complements national goals such as Saudi Vision 2030 and similar development plans across the Gulf, where storytelling is emerging as a vital tool for economic transformation and cross-sector innovation.
