Crown Prince: Saudi Arabia needs a strong real estate developer and 95% real estate developers are rudimentary

Mohammed bin Salman - Investment Fund

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<His Royal Highness Prince Mohammed bin Salman, Crown Prince and Deputy Prime Minister, stressed that Public Investment Fund established Roshan Real Estate Company to meet part of the existing demand, indicating that the company intends to provide one million housing units in 5 years with low profitability to meet part of the demand for housing units expected over the next ten years, which may exceed 4 million housing units. The Crown Prince pointed out that more than 95% of real estate developers in the Kingdom are primitive and do not care about connecting facilities to properties, and that they work on plans with missing or few services that cause issues, indicating that the Kingdom needs a strong real estate developer.

<He explained that after the start of achieving the targets of the Ministry of Housing, the company's targets were adjusted to 2030 to provide one million housing units, indicating that after adjusting the target, ROSHN's profitability increased to 7% or more.