Roshn

Roshn Real Estate Company
Native name
روشن
Company typePrivate
IndustryReal Estate Developer
Founded19 August 2020; 4 years ago (2020-08-19)[1]
FounderPublic Investment Fund
Headquarters
Riyadh
,
Saudi Arabia
Key people
OwnerPublic Investment Fund
Websiteroshn.sa

Roshn (stylized ROSHN; Arabic: روشن) is a real estate development company based in Saudi Arabia. The company was founded in August 2020 by the Saudi Public Investment Fund as one of its Megaprojects. As one of Saudi Arabia's Vision 2030 goals, Roshn aims to enable home ownership to 70% of Saudi nationals.[3]

History

Roshn was officially launched by the Saudi Public Investment Fund on 19 August 2020 as one of its 5 megaprojects, which are: Neom, Red Sea Project, Qiddiya, and Diriyah Company.[4]

On 24 August 2022, Roshn secured naming rights to the Saudi Pro League in a five-year deal worth $127 million.[5]

Following Karim Benzema's signing with Ittihad football club in June 2023, Roshn signed a three-year deal with the club to become its platinum sponsor.[6] [7]

In September 2023, Roshn signed a 45-month deal worth $2.06 billion with China Harbour Engineering Company to develop Riyadh's Sedra and Warefa communities.[8]

Projects

Communities

The following list contains all of the residential communities currently being developed by Roshn:

Name Location Total Area (km2) Announced Website
Sedra[9] Northern Riyadh 20 04 August 2021 sedra.roshn.sa/en
Warefa[10] Eastern Riyadh 1.4 07 March 2022 warefa.roshn.sa/en/
Alarous[11] North of Jeddah 4 24 May 2022 alarous.roshn.sa/en/
Marafy[12] Northern Jeddah 6.6 29 August 2023 alarous.roshn.sa/en/marafy/
Alfulwa[13] South of Hofuf 10.8 14 March 2024 www.roshn.sa/en/alfulwa
Almanar[14] Western Mecca 21 31 March 2024 www.roshn.sa/en/almanar/
Aldanah[15] Dhahran 1.7 24 April 2024 www.roshn.sa/en/aldanah

Roshn Stadium

Main article: Roshn Stadium

In July 2024, Roshn announced “Roshn Stadium”, a stadium with a capacity of 45,000 in Southwest Riyadh. The stadium spans over an area of more than 450,000 square meters. Roshn Stadium is set to host 2034 FIFA World Cup matches.[16]

Awards

  • Saudi Arabia's Best Place to work for the years 2021, 2022, and 2023 presented by bestplacestoworkfor.org[17]

See also

References

  1. ^ "PIF Launches ROSHN". www.roshn.sa. ROSHN. 19 August 2020. Retrieved 1 February 2024.
  2. ^ "Our Board of Directors". www.roshn.sa. ROSHN. Retrieved 1 February 2024.
  3. ^ Birch, Kate (23 March 2023). "All you need to know about Saudi real estate developer ROSHN". Construction. Retrieved 1 February 2024.
  4. ^ "A proven track record of delivering some of the world's most renowned projects". pif.gov.sa. PIF. Retrieved 1 February 2024.
  5. ^ "ROSHN secures naming rights to Saudi Pro League". Arab News. 24 August 2022. Retrieved 1 February 2024.
  6. ^ "Real estate developer ROSHN becomes platinum sponsor of Saudi champions Al-Ittihad". Arab News. 8 June 2023. Retrieved 1 February 2024.
  7. ^ "PIF-owned Saudi real estate firm signs Al-Ittihad sponsorship". Sport Business. 9 June 2023. Retrieved 1 February 2024.
  8. ^ "Roshn and China Harbour sign $2.06bn housing deals". MEED. 11 September 2023. Retrieved 1 February 2024.
  9. ^ Dadlani, Disha (6 August 2021). "ROSHN unveils SEDRA,its first residential community in Riyadh". Construction Week. Retrieved 1 February 2024.
  10. ^ "ROSHN opens sales at its second integrated community in Riyadh - WAREFA". Zawya. 9 October 2023. Retrieved 1 February 2024.
  11. ^ "Saudi developer ROSHN launches first phase of Al Arous project in Jeddah". Arab News. 24 November 2022. Retrieved 1 February 2024.
  12. ^ "Saudi Arabia's Roshn launches Marafy project in Jeddah". MEED. 30 August 2023. Retrieved 1 February 2024.
  13. ^ "Saudi Arabia's ROSHN announces major ALFULWA development to house 100,000 people". Arabian Business. 15 March 2023. Retrieved 1 February 2024.
  14. ^ "ROSHN Group Launches ALMANAR, Its First Integrated Community in Makkah". Saudi Press Agency. 31 March 2024. Retrieved 1 April 2024.
  15. ^ "Saudi's ROSHN unveils new residential project in Greater Dammam". Gulf Business. 31 March 2024. Retrieved 25 April 2024.
  16. ^ "ROSHN Announces Iconic 45,000-Seat Stadium in Southwest Riyadh".
  17. ^ "ROSHN gets award recognizing workplace culture for 3rd year in a row". Arab News. 31 July 2023. Retrieved 1 February 2024.