The CEO of Roshan Real Estate Group, affiliated with the Public Investment Fund, David Grover, said that the group sold residential units worth more than 10 billion riyals during the past 18 months.
Grover revealed, in an interview with Al Arabiya during the Cityscape Real Estate Exhibition in Riyadh, that these proceeds will be invested to expand the business.
He added that the company will announce and sign a number of new agreements this week, explaining: “In the phase that we launched yesterday, there are 6,700 homes.”
He continued, “As a subsidiary of the Public Investment Fund, the financing comes directly from the Fund, and we also use the proceeds of sales, in addition to borrowing from 3 major banks in Saudi Arabia.”
He stated that the group has a large program that reaches 400,000 homes throughout the Kingdom, and we are confident in our ability to implement it by 2030.
The “Roshen” group, which works in the field of real estate development in Saudi Arabia, announced the establishment of 4 strategic commercial partnerships worth more than 9 billion riyals, to include the areas of construction and infrastructure for “Roshen” projects in line with the group’s goals and to achieve the Kingdom’s Vision 2030.
“Roshen” and “China Harbor Engineering” Company concluded an agreement to develop 6,700 residential units, mosques, and community centers, in addition to retail areas and public facilities for future projects in the “Sidra” and “Warfa” communities in Riyadh, which is worth 7.7 billion riyals, which is… The largest projects in Saudi Arabia.
