ROSHN Helping Build new Future for Saudi Arabia
Construction in Saudi Arabia is on a different level to anywhere else in the world.
Most people know about the giga project NEOM, a new Saudi urban area whose total planned area is 26,500 km2. It will include a floating industrial complex, global trade hub, tourist resorts and a linear city powered by renewable energy sources.
It is part of Saudi’s Vision 2030 plan to diversify its economy – economically, socially and culturally, in line with the vision of Saudi Crown Prince and Prime Minister Mohammed bin Salman.
Funding this vision is the Saudi Arabian Public Investment Fund (PIF). The PIF is the sovereign wealth fund of Saudi Arabia. It is the largest sovereign wealth fund in the world, with estimated assets of US$776bn.
One PIF-funded developer is ROSHN, which is building a number of ultra-luxury housing projects along the shores of the Red Sea.
The Red Sea coastline is 1,400km long, stretching from the Kingdom’s northern border with Jordan in the Gulf of Aqaba to Yemen in the far south.
ROSHN is building tens of thousands of homes to boost home ownership in the Kingdom to 70%
In line with Vision 2030, the company is seeking to improve the quality of life for residents and create thousands of new jobs. It is building quality homes in sustainable communities that in total will cover an area more than three times the size of Manhattan.
The communities ROSHN is developing are:
- SEDRA – a flagship Riyadh development covering 20 million sqm and featuring more than 30,000 homes.
In 2022 ROSHN acquired a shopping mall and business park in Riyadh, which will rub shoulders with the SEDRA community. Riyadh Shopping Front is an 80,000 sqm lifestyle mall with more than 10 million visitors per year, while Riyadh Business Front is home to blue-chip tenants including KPMG, Deloitte, Noon, and SNC Lavalin. - ROSHN says that the “potential synergies are immense” between these areas and SEDRA.
- ALAROUS – which will cover 4 million sqm and will have 18,000 homes.
- WAREFA – another Riyadh project, covering 1.4 million sqm and delivering more than 2,000 new homes.
- ALFULWA – an integrated community in the Eastern Province covering more than 10.8 million sqm and providing 18,000 homes for more than 100,000 people.
ROSHN says it is “dedicated to enhancing the urban landscape across the Kingdom, and that over the next few years its objective is to “create residential developments that provide the Saudi community with access to modern amenities in a sustainable and natural environment”.
The company’s focus, it says, is on “enriching the quality of life and fostering vibrant communities”.
