ROSHN Group Commits SAR 1.5 Billion To Local Content Development At PIF Private Sector Forum

ROSHN Group, a prominent real estate developer in Saudi Arabia, showcased its dedication to boosting local content and economic growth at the PIF Private Sector Forum. The company announced new agreements totalling SAR1.5 billion for construction and infrastructure development in the SEDRA Community, its largest project in Riyadh. These agreements highlight ROSHN Group's strategic focus on enhancing the Kingdom's construction sector and local expertise.

The contracts were awarded to both local contractors and an international firm investing in Saudi operations. This move underscores ROSHN Group's commitment to strengthening national capabilities. The agreements involve several leading national and international contracting companies active in the local market.

The first agreement, valued at SAR650 million, focuses on developing over 900 residential units and sports facilities within SEDRA Community. Another agreement supports the expansion of SEDRA by adding more than 700 residential units. These projects aim to enhance the integrated community's growth.

A separate SAR130 million agreement was signed for constructing SEDRA’s first district retail mall. This development is expected to boost retail opportunities within the community, contributing to its overall appeal and functionality.

A fourth agreement, worth SAR720 million, involves developing over 300 premium residential units in SEDRA. This initiative aligns with ROSHN Group's broader mandate of advancing Saudi Arabia’s economic diversification by bolstering local industries and expanding national capabilities.

"Our mandate at ROSHN Group extends beyond developing integrated projects; it plays a vital role in advancing Saudi Arabia’s economic diversification by strengthening local industries and expanding national capabilities," said Iain McBride, Executive Director, Commercial, ROSHN Group.

Through these strategic agreements, ROSHN Group continues to play a significant role in enabling national capabilities while fostering economic growth within Saudi Arabia. The focus remains on enhancing local expertise and supply chain localization as part of their ongoing efforts.

With inputs from SPA