Roshen Group, a wholly-owned subsidiary of the Public Investment Fund (PIF), has entered into MoUs with four major Saudi banks - Arab National Bank, Bank Albilad, Bank Al Jazira and Riyad Bank - which will provide a range of financial services under these MoUs.

The signed MoUs will include the provision of customized banking services to sub-developers working with Roshen Group. The signed MoUs will include customized banking services for sub-developers working with ROSHN Group, reinforcing the group's strategy to support the private sector in the Kingdom and achieve operational excellence in its projects.

The four banks will offer a range of financial services. Under the agreements, the four banks will offer a range of enhanced banking services to sub-developers nominated by ROSHN, including competitive financing margins and coverage ratios, fast account opening, credit assessments, and credit facilities for qualified customers.“

The CEO of ROSHN Real Estate Group said: ”The four banks will provide customized banking services to sub-developers working with ROSHN Real Estate Group, reinforcing the group's strategy to support the private sector in the Kingdom and achieve operational excellence in its projects. <Avinash Panjarkar, Group Chief Financial Officer, said: “Our agreements with these banks reinforce our strategy to empower the private sector by facilitating best-in-class financial support services, rapid credit assessments and simplified financial services, so that sub-developers and contractors can plan and execute larger and more ambitious projects, contributing to their growth and long-term sustainability of their businesses.“

Avinash Panjarkar, Group Chief Financial Officer, said. He added: "These partnerships stem from our firm belief in the role of Roshen in contributing to the realization of the Kingdom's Vision 2030, and we are confident that these strategic partnerships will enable us to make a qualitative leap in the speed and quality of our projects, reflecting positively on our support to the private sector and contributing to the realization of the Kingdom's development vision in terms of diversifying the economy and increasing the rate of home ownership.”

These partnerships will enable ROSHN to achieve its goals of diversifying the economy and increasing home ownership.