Announced Rushen Groupthe real estate developer and one of the Public Investment Fund's flagship projects, announced the signing of an agreement with the National Bank of Saudi Arabia, in the presence of Chief Sales Officer Jason Margetts and Head of the Retail Banking Business Group at the bank, Saud Bajbir. ROSHN said in a statement that the agreement seeks to enhance its housing finance programs and provide high-quality housing options for employees of the Saudi National Bank.
According to the agreement, ROSHN Group will host the bank's employees at Sidra and Warfa sales centers in Riyadh and Al Arous in Jeddah to learn about ROSHN's integrated projects across the Kingdom.
Housing Finance Raises Ownership
ROSHN added that forming these partnerships with the most prominent local entities contributes to raising the rate of home ownership in line with the goals of Saudi Vision 2030. She signed “Rushen“. The memorandum of understanding (MoU) with Tsang's Holding Group, in the presence of Yassin Kattan, Head of Strategy and Corporate Affairs at the group, and Patrick Tsang, President of Tsang's Group and co-founder of the Hong Kong Ambassadors Club, is a step towards enhancing cooperation opportunities between the two groups in the field of technology investments.
The collaboration reflects ROSHN's ongoing efforts to contribute to the realization of Saudi Vision 2030 by supporting innovation and utilizing technological opportunities to build a diversified and sustainable economy.
Building 400,000 housing units by 2030
In mid-November, Roshan Group CEO David Grover revealed that Roshan aims to build 400,000 housing units by 2030, with investments of 500 billion riyals or more, with the exception of the “Marafi” project, which contains a water canal, which costs billions and is a 20-year project, pointing out that the company has spent about 20 billion riyals so far.
Grover revealed that the company sold units during the year 2023 by about 10 billion riyals, and will achieve revenues of hundreds of billions over the next five to ten years, indicating that the company has so far sold about 8,000 units, and by the end of the year it will have 2,000 families, and there are 11,000 units under construction, saying: “Currently, our prices range from “under a million” to 7 million.”.
