Roshn inks $2.1bn in agreements with construction firms for development of infrastructure and facilities
The announcement was made on the sidelines of the inaugural PIF-backed Private Sector Forum
Saudi-based community developer Roshn has announced that it has inked agreements worth US $2.1bn with top construction firms for the development of modern infrastructure and facilities across several of its projects in the Kingdom.
The contracts were awarded to top builders including China Harbour Engineering Company, Shapoorji Pallonji, Ansab Contracting, Cityscape Group, Al Kifah Precast Company, Haif Company and Trans Contracting Company.
Roshn is powered by the Kingdom’s Public Investment Fund (PIF) and is committed to delivering high quality communities to Saudi citizens.
In late April 2022, Roshn said 10 million manhours had been achieved with no LTIs on its Sedra project in Riyadh and, in late November 2022, the developer said that it had begun the handover of villas and townhouses ahead of schedule.
According to a statement, the deal were inked on the sidelines of the inaugural PIF-backed Private Sector Forum that concluded in Riyadh recently. A first-of-its-kind event, the forum was attended by leading PIF executives, ministers, senior government officials, and representatives from 50 PIF portfolio companies, as well as over 4,000 private sector participants from across Saudi Arabia, representing a broad range of sectors.
Commenting on the strategic agreements, Roshn’s Chief Development Officer Oussama Kabbani pointed out that the pace of work at its project sites encourages the group to partner with the private sector to achieve its goals.
“These types of partnerships are core to what we do at Roshn, as we are mandated to uplift the industry and raise the bar in the real estate sector by providing new modes of living that contribute to raising the quality of life in Saudi Arabia and Vision 2030 goals,” he concluded.
In early January 2023, it was announced that Diriyah would become PIF’s fifth giga-project.
