ROSHN Group signs SAR 1.5 billion worth of agreements, reinforces commitment to supporting local content

ROSHN Group, the multi-asset real estate developer in the Kingdom and a subsidiary of the Public Investment Fund, affirmed its commitment to supporting local content and enhancing economic growth during the third edition of the Public Investment Fund and Private Sector Forum.

As part of its participation in the forum, the group announced the signing of new agreements worth SAR 1.5 billion for construction operations, infrastructure development and retail facilities in the “Sidra” community, its largest integrated project in Riyadh.

The agreements signed during the forum reflect ROSHN Group’s commitment to supporting the construction sector in the Kingdom, developing local talent, and enhancing the localization of supply chains.

The contracts were awarded to leading national and international contracting companies investing in the local market, and the first agreement was signed, worth SAR 650 million, to develop more than 900 residential units and sports facilities in the Sidra community.

ROSHN Group signed another agreement to develop more than 700 residential units, supporting the continued expansion of the Sidra community. In addition, a SAR 130 million agreement was signed to establish the first commercial center in the first district of the Sidra community. The fourth agreement, worth SAR 720 million, was signed to build more than 300 distinguished residential units in the Sidra community. Ian McBride, Executive General Manager of Commercial Affairs at ROSHN Group, said: “Our vision at ROSHN Group is not limited to developing integrated projects only, but extends to include an effective contribution to diversifying the national economy and strengthening local industries.