Company Insights Roshn Real Estate Roshn News Giga-projects PIF launches company to build worker accommodation Saudi Arabia’s Public Investment Fund (PIF) has established a company to develop and operate accommodation for workers employed on major projects in the kingdom. Smart Accommodation for Residential Complexes Company (Sarcc) will build workers’ accommodation for both public and private sector developers who are working on projects across the country. Sarcc will also seek opportunities […] October 21, 2024 Analysis Real Estate Real estate picks up in Saudi Arabia’s Eastern Province The Gulf city of Dammam and the Eastern Province that surrounds it have long trailed behind Riyadh, Jeddah and Mecca in the push for glitzy development, but real estate activity is picking up across the hospitality, residential and industrial sectors. The province, which has deep pockets thanks to its importance to the Saudi energy industry, […] October 14, 2024 Construction PIF-backed Roshn raises $2.4bn for expansion Saudi Arabian giga-project developer Roshn has secured a new SAR9 billion ($2.4 billion) credit facility from a consortium of locally-listed banks. The loan will support the developer’s expansion and growth plans over the next five years, state-run Saudi Press Agency reported. “We intend to use these funds to further advance our ambitious strategy in the […] October 2, 2024 Tourism PIF companies push ahead with Mecca expansion plans Saudi Arabia’s Public Investment Fund is building a vast commercial district in Mecca with an estimated value of $10 billion, giving the Islamic holy city a radical makeover. After a series of ownership changes, two companies have emerged as the lead developers of commercial space around the Grand Mosque in Mecca – the 100 percent […] October 2, 2024 Leisure & Hospitality Riyadh to get a new 45,000-seat stadium Riyadh, the Saudi capital, is set to house another new world-class stadium as the kingdom bets on becoming a global sporting hub. The 45,000-seat stadium in south-west Riyadh will be developed by Roshn Group, a giga-project developer backed by the Public Investment Fund, the kingdom’s sovereign wealth fund. The stadium will be part of a […] July 31, 2024 Giga-projects Saudi university working to improve ‘green concrete’ Saudi Arabia’s King Abdullah University of Science and Technology (Kaust) is developing direct carbon capture for buildings with the “green concrete” construction company Partanna. The Bahamas-based startup has already begun supplying a number of Saudi giga-projects with its concrete that absorbs carbon dioxide. These include housing company Roshn, tourist resort operator Red Sea Global and […] July 5, 2024 Giga-projects Consolidating giga-projects pushes PIF into profit Saudi Arabia’s Public Investment Fund (PIF) swung into profit in 2023, with revenues doubling to $88.3 billion. According to an audited financial statement the sovereign wealth fund has consolidated five schemes as it manages giga-project costs. PIF owns the development projects at the heart of Saudi Arabia’s economic reform plan but is now facing funding […] July 3, 2024 Transport Mecca expands public transport as Eid al-Adha nears Authorities in Mecca are expanding the public transport system to accommodate more pilgrims from abroad as the Hajj season reaches its climax next week with Eid al-Adha. The Royal Commission for Mecca City and the Holy Sites said this week it was providing 400 buses operating from four main stations around the city to manage […] June 13, 2024 Real Estate ‘Affordable’ new suburb to be built in Mecca A fifth residential suburb in the holy city of Mecca, aimed at affordability for ordinary citizens, is to be built by Saudi Arabia’s National Housing Company. Mecca has seen a plethora of real estate developments aimed at affluent Saudis and Muslims from around the world, but the government is trying to balance this as part […] June 7, 2024 Construction Retal wins $770m contract to build in Dhahran The Saudi builder Retal has signed a SAR2.9 billion ($770 million) contract to design and build nearly 2,000 residential units in Dhahran, Eastern Province, for the giga-project developer Roshn. Retal “will develop and design the detailed master plan, design and execute the infrastructure, landscape, construct 1,962 residential units and public amenities building in Aldanah project,” […] May 21, 2024 Posts navigation Previous 1 2 3 … 5 Next
Giga-projects PIF launches company to build worker accommodation Saudi Arabia’s Public Investment Fund (PIF) has established a company to develop and operate accommodation for workers employed on major projects in the kingdom. Smart Accommodation for Residential Complexes Company (Sarcc) will build workers’ accommodation for both public and private sector developers who are working on projects across the country. Sarcc will also seek opportunities […] October 21, 2024
Analysis Real Estate Real estate picks up in Saudi Arabia’s Eastern Province The Gulf city of Dammam and the Eastern Province that surrounds it have long trailed behind Riyadh, Jeddah and Mecca in the push for glitzy development, but real estate activity is picking up across the hospitality, residential and industrial sectors. The province, which has deep pockets thanks to its importance to the Saudi energy industry, […] October 14, 2024
Construction PIF-backed Roshn raises $2.4bn for expansion Saudi Arabian giga-project developer Roshn has secured a new SAR9 billion ($2.4 billion) credit facility from a consortium of locally-listed banks. The loan will support the developer’s expansion and growth plans over the next five years, state-run Saudi Press Agency reported. “We intend to use these funds to further advance our ambitious strategy in the […] October 2, 2024
Tourism PIF companies push ahead with Mecca expansion plans Saudi Arabia’s Public Investment Fund is building a vast commercial district in Mecca with an estimated value of $10 billion, giving the Islamic holy city a radical makeover. After a series of ownership changes, two companies have emerged as the lead developers of commercial space around the Grand Mosque in Mecca – the 100 percent […] October 2, 2024
Leisure & Hospitality Riyadh to get a new 45,000-seat stadium Riyadh, the Saudi capital, is set to house another new world-class stadium as the kingdom bets on becoming a global sporting hub. The 45,000-seat stadium in south-west Riyadh will be developed by Roshn Group, a giga-project developer backed by the Public Investment Fund, the kingdom’s sovereign wealth fund. The stadium will be part of a […] July 31, 2024
Giga-projects Saudi university working to improve ‘green concrete’ Saudi Arabia’s King Abdullah University of Science and Technology (Kaust) is developing direct carbon capture for buildings with the “green concrete” construction company Partanna. The Bahamas-based startup has already begun supplying a number of Saudi giga-projects with its concrete that absorbs carbon dioxide. These include housing company Roshn, tourist resort operator Red Sea Global and […] July 5, 2024
Giga-projects Consolidating giga-projects pushes PIF into profit Saudi Arabia’s Public Investment Fund (PIF) swung into profit in 2023, with revenues doubling to $88.3 billion. According to an audited financial statement the sovereign wealth fund has consolidated five schemes as it manages giga-project costs. PIF owns the development projects at the heart of Saudi Arabia’s economic reform plan but is now facing funding […] July 3, 2024
Transport Mecca expands public transport as Eid al-Adha nears Authorities in Mecca are expanding the public transport system to accommodate more pilgrims from abroad as the Hajj season reaches its climax next week with Eid al-Adha. The Royal Commission for Mecca City and the Holy Sites said this week it was providing 400 buses operating from four main stations around the city to manage […] June 13, 2024
Real Estate ‘Affordable’ new suburb to be built in Mecca A fifth residential suburb in the holy city of Mecca, aimed at affordability for ordinary citizens, is to be built by Saudi Arabia’s National Housing Company. Mecca has seen a plethora of real estate developments aimed at affluent Saudis and Muslims from around the world, but the government is trying to balance this as part […] June 7, 2024
Construction Retal wins $770m contract to build in Dhahran The Saudi builder Retal has signed a SAR2.9 billion ($770 million) contract to design and build nearly 2,000 residential units in Dhahran, Eastern Province, for the giga-project developer Roshn. Retal “will develop and design the detailed master plan, design and execute the infrastructure, landscape, construct 1,962 residential units and public amenities building in Aldanah project,” […] May 21, 2024
