World

ROSHN: Pioneering a real estate renaissance in Saudi Arabia

With its eagerness to maximize the benefits of a favorable investment climate and commitment to sustainable housing, this public investment fund is rewriting the country’s realty growth story.
ROSHN, a company wholly owned by the Public Investment Fund (PIF), is at the forefront of transforming the real estate landscape in Saudi Arabia.

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On the sidelines of the CityScape Global Exhibition, Al Arabiya English caught up with ROSHN Group Chief Development Officer Oussama Kabbani to further excavate the Kingdom’s current status in the real estate sector.

Saudi Vision 2030 and ROSHN’s genesis

Saudi Vision 2030, with its multifaceted objectives, has given rise to several giga projects aimed at realizing its vision. Initially tasked with delivering homes for Saudis, ROSHN set out to build nearly 400,000 units, playing a pivotal role in achieving the goal to have 70 percent of Saudis own their homes.

“In our thriving Riyadh community, nearly 500 families have already made their homes and with every passing week, month and year, we witness a growing influx of new residents,” highlighted Kabbani.

As a testament to ROSHN’s pivotal role in Saudi Arabia’s development, Kabbani the company will soon announce its first project in Mecca which he described as a “very large community for ownership.”

In Riyadh alone, nearly 500 families are living in ROSHN communities and by 2030, ROSHN plans to complete 30-35 units of residential properties. This transformation will lead to the creation of a small town called SEDRA.

“Looking ahead to 2030, we plan to complete approximately 30 to 35 residential units and hope to find happy occupants,” said Kabbani.

Furthermore, ROSHN is actively expanding its footprint in Riyadh, Jeddah and Mecca, catering to the growing demand for sustainable, modern communities.

Sustainability is key

Sustainability is a cornerstone of Saudi Vision 2030, aiming to reduce the carbon footprint and enhance social and economic sustainability. ROSHN embraces these principles by using sustainable materials, integrating solar energy and championing the concept of 15-minute cities to promote walkability and reduce car dependency.

“Saudi Arabia is at the forefront of the solar-powered automobile industry. In the coming years, we anticipate a shift away from traditional automobiles towards domestically produced solar cars,” Kabbani said.

ROSHN has aligned its commitment to provide sustainable housing with the vision of Saudi King Salman bin Abdulaziz. Going beyond conventional practices, the company recently became a UN Global Impact member, obligating it to report its sustainability goals and contributions to global environmental issues.

This membership, while serving as a great inspiration for sustainability practices, places ROSHN under international scrutiny and sets a precedent for other giga projects in the region.
“Like everything else in Saudi Arabia, once you start, all the other giga projects will follow,” emphasized Kabbani.

Commercial and rental markets in KSA

The ownership market in Saudi Arabia is robust, driven by the country’s young population. Younger generations are increasingly seeking smaller and more affordable homes or apartments – a trend seen worldwide.

In the Kingdom’s early days, everyone aspired to own grand villas. However, according to Kabbani, this trend has recently witnessed a shift towards more affordable and sustainable housing solutions.

“While owning property is still desirable, there is a growing demand for rental properties, both for residential and commercial purposes,” Kabbani said.

Saudi Arabia’s job market, catering to both nationals and expatriates, is helping fuel this demand, with people now preferring good neighborhoods over closed compounds, contributing to a flourishing rental market.

Explore a burgeoning market

Saudi Arabia represents an immense business opportunity that shouldn’t be overlooked. The scale of development in the country is unprecedented, driven by a clear vision, strategic planning and government initiatives.

“If you want to be in business today, you must be in Saudi Arabia. If you’re not in Saudi Arabia, you’re not in business,” expressed Kabbani.

The country’s impact on the real estate sector is substantial and it’s a nation with great human resources potential, scientific advancement and effective management. Investors and developers are being urged to explore this burgeoning market, which is still in its early stages, according to Kabbani.

Moreover, Saudi Arabia is currently mulling over a legal reform that may open up opportunities for foreigners – a move that has already found a lot of traction worldwide and is expected to be implemented in the future.

Kabbani further explained: “ROSHN welcomes foreign investors and developers to explore opportunities within its master plan. The company supports local sub-developers to grow and expand their businesses.”

With giga projects such as THE LINE, King Salman Park, and the Cube reshaping the landscape and setting new standards, Saudi Arabia is rewriting the narrative in the real estate industry.

The Cityscape Global Exhibition held earlier this month in Riyadh, showcased the monumental scale and ambition of the country’s real estate endeavors, making it a must-visit for anyone in the industry.
“We were in CityScape, the largest real estate property event in history that tells you a lot about Saudi Arabia. It’s on a scale that has never happened before in history,” Kabbani claimed.

“I urge investors and developers in the property sector to start understanding this market because we’re still at the very beginning and there are so many opportunities,” he continued.

Saudi Arabia’s ambition, effective management and forward-looking vision are propelling the country towards becoming a global economic powerhouse and a modern nation.

“I think a new chapter is being written by Saudi Arabia today,” Kabbani said. This journey encompasses various industries – from fintech to biotech, aviation to tourism – that are all working together to ensure a harmonious progression.

Partnership opportunities galore

“There’s an ocean called Saudi Arabia and I think it’s one of the largest real estate oceans,” Kabbani reiterated, adding: “Come, be a part of this transformative journey and contribute to the remarkable evolution of Saudi Arabia’s real estate sector.”

Underscoring the safety the country offers and its growing investment climate, Kabbani said the Kingdom allows a lot of partnership opportunities. “Come and be a part of the party,” he said.

Earlier this year, as an effort to develop Saudi communities, ROSHN signed eight giga contracts worth SR8 billion ($2.1 billion) to develop modern infrastructure and facilities across the several projects it is developing in the Kingdom.

“As a key growth engine for the Saudi economy, PIF and its portfolio companies are looking to further develop long-term partnerships with the local private sector to realize Vision 2030 objectives,” PIF Governor Yasir Al-Rumayyan announced during a recent event.

“These will help diversify the economy and enhance competitiveness, thereby increasing local content and unlocking new sectors,” he added.
Read more:

Saudi PIF developer Roshn Real Estate lines up $2.7 billion for building spree

Saudi-PIF backed developer ROSHN delivers to homeowners ahead of schedule

Saudi Arabia’s PIF-owned ROSHN hits 10 million man-hours without lost-time injuries

World

Saudi Fund for Development Celebrates 50 Years of Global Impact with Over $20 Billion in Development Contributions

The Saudi Fund for Development (SFD) celebrated its 50th anniversary in Riyadh today, under
the theme “50 Years of Global Impact.”The event brought together key development partners to
reflect on the SFD’s significant contributions to sustainable development worldwide. Over the
past five decades, the SFD has allocated over $20 billion, financing more than 800 development
projects and programs in vital sectors, including social infrastructure (education, healthcare,
water and sewage, and housing and urban development), communication and transportation
(roads, railways, airports and seaports), energy, agriculture, mining and industry, and others.
Since its inception in 1974, the SFD has been the international development arm of the Kingdom
of Saudi Arabia and has provided critical support to over 100 developing nations around the
world. With a strong focus on supporting countries to achieve the Sustainable Development
Goals (SDGs), the SFD has played a pivotal role in driving sustainable development in Least
Developed Countries (LDCs) and Small Island Developing States (SIDS).
During the event, SFD Chairman H.E. Ahmed Al-Khateeb emphasized the importance of
collaboration in driving global development. He highlighted that SFD’s success is deeply rooted
in its partnerships, with 27 development projects and programs in 23 developing countries in
2023 co-financed with other funders. He also underscored the need to forge new partnerships and
strengthen existing ones to create a world where every individual has the opportunity to reach
their full potential.
Reflecting on this significant milestone, the SFD CEO , Mr. Sultan bin Abdulrahman Al-
Marshad, stated: “As we celebrate five decades of impactful work, we are committed, now more
than ever, to supporting developing countries on their journey to economic self-reliance and
resilience. Our goal is to ensure that all children can go to school, that education is not a
privilege but something every child should have access to, and that families have access to
healthcare and basic vital services. Equally, we focus on critical infrastructure development, like
building roads and enhancing airports and sea ports, so that countries can thrive and engage in
economic activities and trade. This work is not just about financing; it’s about tangibly
improving lives, creating opportunities, empowering communities, and building a more
prosperous future.”
On the sidelines of the 50 th Anniversary Gala, the SFD and the Asian Development Bank (ADB)
signed a new $25 million agreement to co-finance a renewable energy development project in the
Solomon Islands. This marks the first project for SFD in the Solomon Islands. The primary aim

of the project is to develop renewable energy infrastructure, reduce dependency on fossil fuels,
and promote sustainable development in the region.
This agreement builds on SFD’50 years of transformative impact through development projects
that have spanned Africa, Asia and the Pacific, Latin America and the Caribbean, and Eastern
Europe.
This includes key projects such as the Metolong Dam in Lesotho, which received $25 million in
funding and now provides potable water to 280,000 people, enhancing water security and public
hygiene and health in the region. This is just one of the 433 projects across Africa, with a total
funding of $11.5 billion, which focuses on critical areas such as infrastructure and water security.
In Asia, the SFD has funded 271 projects with a total funding of $7.8 billion. One notable
example is the SFD’s contribution to the Mohmand Dam Hydropower Project in Pakistan, which
has an overall project cost of $240 million. The projects contributes to the country’s energy
security and flood resilience by generating 800 megawatts of renewable energy and storing 1.6
million cubic meters of water.
In Latin America and the Caribbean, the SFD has financed 21 projects, totaling $951 million
USD. This includes rehabilitating the Water and Sewage System in Havana, Cuba, where the
SFD has allocated $35 million to enhance public infrastructure. Another significant initiative is
the rebuilding of St. Jude Hospital in Saint Lucia, supported by $75 million funding, which will
contribute to providing high-quality health services to citizens in a modern and sophisticated
facility and providing sufficient medical supplies and equipment to support the effective
operation of the hospital.
In Eastern Europe, the SFD has contributed to 14 projects with a total investment of $303
million. A key initiative is the construction of the Tirana-Elbasan-Chokos-Chalf-Ploce Road,
where the SFD provided $73.8 million to rebuild essential roads and bridges, thereby boosting
regional economic activities.
During the celebration, esteemed speakers shared insights on the SFD’s pivotal role in global
development, and in championing critical partnerships and collective action and response.
Keynote speakers included:

 HRH Prince Turki bin Faisal Al Saud, Founder and Trustee of the King Faisal
Foundation
 H.E. Ahmed bin Aqeel Al-Khateeb, Chairman of the Board of Directors of the SFD
 H.E. Akinwumi Adesina, President of the African Development Bank Group
 H.E. Muhammad Al Jasser, Chairman of the Islamic Development Bank

These global development leaders emphasized the SFD’s commitment to fostering sustainable
growth in countries and communities with the most pressing developmental needs. The gala was attended by more than 500 people, including ministers, heads of regional and international organizations, ambassadors, representatives of the United and other distinguished
guests. As the SFD looks to the future, it reaffirms its mission and pledge to drive international
development efforts, on behalf of the Kingdom of Saudi Arabia, and to contribute to global
stability, social progress, and economic prosperity for future generations.

World

Jordan warns of escalation in southern Lebanon

Jordan warned on Sunday of the increasing escalation in southern Lebanon and a potential regional war in light of the ongoing Israeli aggression in Gaza, Jordan News Agency (Petra) reported.

Foreign Ministry spokesperson Sufian Qudah discussed supporting Lebanon, its security, stability and the safety of its people and institutions, noting the need to adhere to Security Council Resolution 1701 to reduce and prevent further escalation and protect the region from the risk of slipping into a regional war.

Qudah added that the Israeli war on Gaza and the failure to reach an exchange agreement that leads to an immediate and permanent ceasefire puts the entire region at risk of the conflict expanding.

He discussed launching an effective international movement that imposes an immediate cessation of the aggression on Gaza.

World

China issues guidelines for coordinated digital, green transformation

China’s Office of the Central Cyberspace Affairs Commission and nine central departments have issued new guidelines for the coordinated transformation toward digital development and green growth, Xinhua News Agency reported.

Published on Saturday, the guidelines focus on two main areas: promoting the green, low-carbon development of digital industries and accelerating the green transformation of various sectors through digital technology.

They aim to accelerate the coordinated transformation toward digital development and green growth, promote the integration of emerging technologies with green, low-carbon industries, and enhance traditional industries using digital and green technologies.

Outlining fundamental principles, the guidelines specify the roles of authorities, industry associations, universities, research institutes and businesses in driving this transition.

They provide a three-part framework covering the basic capacity, technological systems and industrial systems for digital-green integration.

Regions are encouraged to focus on high-quality development, develop new quality productive forces, leverage local resources and create specialized industries and functional advantages to accelerate coordinated digital and green development.