Company Insights Roshn Real Estate Roshn Overview Roshn Group was founded in 2020 as part of Saudi Arabia’s Vision 2030 plans. It is a real estate developer and owned by the Public Investment Fund (PIF). Roshn says it is “transforming the urban landscape with human-centric, integrated developments that elevate connectivity and enhance the quality of life”. In 2022 Roshn secured naming rights to the Saudi Pro League in a five-year deal worth $127 million. The following year Roshn signed a three-year deal with Ittihad football club to become its platinum sponsor. Roshn has a deal worth $2.06 billion with China Harbour Engineering Company to collaborate on Riyadh’s Sedra and Warfare residential developments. Roshn Stadium, with a capacity of 45,000 in southwest Riyadh, is expected to host matches in the 2034 Fifa World Cup. A preliminary design for the stadium was submitted to Fifa as part of Saudi Arabia’s World Cup bid and the company has invited expressions of interest from international and local contractors. In October 2024 Roshn announced it had secured a new SAR9 billion ($2.4 billion) credit facility from a consortium of locally listed banks to fund its growth plans. Roshn News Construction Jeddah’s residential canal project takes shape Construction work on Marafy, a residential canal-waterfront project in Saudi Arabia’s second city, Jeddah, is gathering pace. Driven by Roshn Group, the property developer unit of the government’s Public Investment Fund (PIF), the development will have capacity to house more than 130,000 people. Though no cost for the Marafy project has been made public, in […] April 25, 2025 Giga-projects Red Sea giga-project launches new island despite PIF budget cuts Saudi Arabia’s Red Sea Global has launched its first island development on the $23.6 billion Red Sea giga-project. The opening comes despite the $925 billion Public Investment Fund ordering deep spending cuts across more than 100 of its companies, as AGBI reported last month. Some budgets have been cut by as much as 60 percent, sources said, […] April 16, 2025 EXCLUSIVE Giga-projects PIF spending cuts slow giga-projects and trigger layoffs Saudi Arabia’s $925 billion Public Investment Fund (PIF) has ordered deep spending cuts across more than 100 of its companies, slowing projects and triggering layoffs, people familiar with the matter have told AGBI. The sovereign wealth fund at the heart of the government’s economic transformation strategy is mandating a minimum 20 percent reduction in 2025 […] March 24, 2025 Real Estate Saudis sold on online home sales, says developer Roshn Saudi developer Roshn, a unit of the Public Investment Fund (PIF), said half of its home sales are now made online, marking a significant shift in the kingdom’s property market. Buyers on Roshn’s platform can verify their identity using national digital IDs, sign contracts electronically and make payments online, streamlining a process that traditionally required […] January 7, 2025 EDITOR'S INSIGHT Transport Riyadh Metro could get Saudis to quit their cars OK. So it did not go entirely as advertised. The first phase of the Riyadh Metro was due to open on Wednesday; instead the system has been inaugurated and operation of three of the six lines – Blue, Yellow and Violet – officially starts on December 1. When the trains do roll, the metro will enable […] November 28, 2024 Analysis Giga-projects Rise in major US law firms setting up in Saudi Arabia Attracted by the host of complex and potentially lucrative legal issues raised by Saudi Arabia’s development push, several of the largest law firms in the US are formally setting up shop in the kingdom, either directly or through mergers and acquisitions. Among those making the leap is Atlanta-based company King & Spalding. A spokesperson confirmed […] November 28, 2024 Analysis Giga-projects Saudi giga-projects are going local with new focus A nationalist sensitivity towards the leadership and aims of Saudi Arabia’s massive giga-projects is slowly taking hold, as foreign CEOs are swapped out for locals and the government makes a stronger push on housing for Saudi citizens. Last month, the King Abdullah Financial District replaced its Indian CEO Guatam Sashiittal with Mohammed Alsudairy – head […] November 14, 2024 Construction Banks vying to fund Roshn’s Saudi expansion Saudi real estate developer Roshn, a subsidiary of the Public Investment Fund (PIF), is reporting strong interest from banks eager to finance its projects, and demand is so high that some lenders have been turned away, according to a senior executive. In contrast to this momentum, Saudi Arabia’s other giga-projects face financing constraints, with resources […] November 14, 2024 Construction Former CEO sues Roshn for $100m over ‘unpaid bonuses’ The former CEO of Roshn, David Grover, is suing the Saudi property developer for more than $100 million, claiming unpaid bonuses and wrongful termination. Grover, who lost the initial stage of his case against the state-owned company in October, has appealed to a higher court in Riyadh, the Financial Times reports. Grover alleges that Roshn […] November 13, 2024 EXCLUSIVE Business of Sport Roshn seeks contractors for Riyadh World Cup stadium Saudi real estate developer Roshn is inviting expressions of interest from international and local contractors for its 45,000-seat football stadium in Riyadh. Iain McBride, Roshn’s head of commercial, said the Public Investment Fund subsidiary was actively seeking partners “very early in the process” to help “de-risk” the project. “What we don’t want is to design, […] November 6, 2024 Posts navigation 1 2 … 5 Next
Construction Jeddah’s residential canal project takes shape Construction work on Marafy, a residential canal-waterfront project in Saudi Arabia’s second city, Jeddah, is gathering pace. Driven by Roshn Group, the property developer unit of the government’s Public Investment Fund (PIF), the development will have capacity to house more than 130,000 people. Though no cost for the Marafy project has been made public, in […] April 25, 2025
Giga-projects Red Sea giga-project launches new island despite PIF budget cuts Saudi Arabia’s Red Sea Global has launched its first island development on the $23.6 billion Red Sea giga-project. The opening comes despite the $925 billion Public Investment Fund ordering deep spending cuts across more than 100 of its companies, as AGBI reported last month. Some budgets have been cut by as much as 60 percent, sources said, […] April 16, 2025
EXCLUSIVE Giga-projects PIF spending cuts slow giga-projects and trigger layoffs Saudi Arabia’s $925 billion Public Investment Fund (PIF) has ordered deep spending cuts across more than 100 of its companies, slowing projects and triggering layoffs, people familiar with the matter have told AGBI. The sovereign wealth fund at the heart of the government’s economic transformation strategy is mandating a minimum 20 percent reduction in 2025 […] March 24, 2025
Real Estate Saudis sold on online home sales, says developer Roshn Saudi developer Roshn, a unit of the Public Investment Fund (PIF), said half of its home sales are now made online, marking a significant shift in the kingdom’s property market. Buyers on Roshn’s platform can verify their identity using national digital IDs, sign contracts electronically and make payments online, streamlining a process that traditionally required […] January 7, 2025
EDITOR'S INSIGHT Transport Riyadh Metro could get Saudis to quit their cars OK. So it did not go entirely as advertised. The first phase of the Riyadh Metro was due to open on Wednesday; instead the system has been inaugurated and operation of three of the six lines – Blue, Yellow and Violet – officially starts on December 1. When the trains do roll, the metro will enable […] November 28, 2024
Analysis Giga-projects Rise in major US law firms setting up in Saudi Arabia Attracted by the host of complex and potentially lucrative legal issues raised by Saudi Arabia’s development push, several of the largest law firms in the US are formally setting up shop in the kingdom, either directly or through mergers and acquisitions. Among those making the leap is Atlanta-based company King & Spalding. A spokesperson confirmed […] November 28, 2024
Analysis Giga-projects Saudi giga-projects are going local with new focus A nationalist sensitivity towards the leadership and aims of Saudi Arabia’s massive giga-projects is slowly taking hold, as foreign CEOs are swapped out for locals and the government makes a stronger push on housing for Saudi citizens. Last month, the King Abdullah Financial District replaced its Indian CEO Guatam Sashiittal with Mohammed Alsudairy – head […] November 14, 2024
Construction Banks vying to fund Roshn’s Saudi expansion Saudi real estate developer Roshn, a subsidiary of the Public Investment Fund (PIF), is reporting strong interest from banks eager to finance its projects, and demand is so high that some lenders have been turned away, according to a senior executive. In contrast to this momentum, Saudi Arabia’s other giga-projects face financing constraints, with resources […] November 14, 2024
Construction Former CEO sues Roshn for $100m over ‘unpaid bonuses’ The former CEO of Roshn, David Grover, is suing the Saudi property developer for more than $100 million, claiming unpaid bonuses and wrongful termination. Grover, who lost the initial stage of his case against the state-owned company in October, has appealed to a higher court in Riyadh, the Financial Times reports. Grover alleges that Roshn […] November 13, 2024
EXCLUSIVE Business of Sport Roshn seeks contractors for Riyadh World Cup stadium Saudi real estate developer Roshn is inviting expressions of interest from international and local contractors for its 45,000-seat football stadium in Riyadh. Iain McBride, Roshn’s head of commercial, said the Public Investment Fund subsidiary was actively seeking partners “very early in the process” to help “de-risk” the project. “What we don’t want is to design, […] November 6, 2024
