Roshn Explained

Roshn Real Estate Company
Native Name:روشن
Type:Private
Native Name Lang:arb
Industry:Real Estate Developer
Foundation:[1]
Location City:Riyadh
Founder:Public Investment Fund
Location Country:Saudi Arabia

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Roshn (stylized ROSHN;) 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.[2]

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.[3]

On 24 August 2022, Roshn secured naming rights to the Saudi Pro League in a five-year deal worth $127 million.[4]

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.[5] [6]

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.[7]

Projects

Communities

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

Total Area (km2)! Announced! class="unsortable"
Website
Sedra[8] Northern Riyadh2004 August 2021
Warefa[9] Eastern Riyadh1.407 March 2022
Alarous[10] North of Jeddah424 May 2022
Marafy[11] Northern Jeddah6.629 August 2023
Alfulwa[12] South of Hofuf10.814 March 2024
Almanar[13] Western Mecca2131 March 2024
Aldanah[14] Dhahran1.724 April 2024

Roshn Stadium

See 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.[15]

Awards

See also

External links

Official Website

Notes and References

  1. Web site: PIF Launches ROSHN . . 2020-08-19 . www.roshn.sa . ROSHN . 2024-02-01 .
  2. News: Birch . Kate . 2023-03-23 . All you need to know about Saudi real estate developer ROSHN. Construction . 2024-02-01.
  3. Web site: A proven track record of delivering some of the world’s most renowned projects . . pif.gov.sa . PIF . 2024-02-01 .
  4. News: . 2022-08-24 . ROSHN secures naming rights to Saudi Pro League . Arab News . 2024-02-01.
  5. News: . 2023-06-08 . Real estate developer ROSHN becomes platinum sponsor of Saudi champions Al-Ittihad . Arab News . 2024-02-01.
  6. News: . 2023-06-09 . PIF-owned Saudi real estate firm signs Al-Ittihad sponsorship . Sport Business . 2024-02-01.
  7. News: . 2023-09-11 . Roshn and China Harbour sign $2.06bn housing deals . MEED . 2024-02-01.
  8. News: Dadlani . Disha . 2021-08-06 . ROSHN unveils SEDRA,its first residential community in Riyadh . Construction Week . 2024-02-01.
  9. News: . 2023-10-09 . ROSHN opens sales at its second integrated community in Riyadh - WAREFA . Zawya . 2024-02-01.
  10. News: . 2022-11-24 . Saudi developer ROSHN launches first phase of Al Arous project in Jeddah . Arab News . 2024-02-01.
  11. News: . 2023-08-30 . Saudi Arabia's Roshn launches Marafy project in Jeddah . MEED . 2024-02-01.
  12. News: . 2023-03-15 . Saudi Arabia’s ROSHN announces major ALFULWA development to house 100,000 people . Arabian Business . 2024-02-01.
  13. News: . 2024-03-31 . ROSHN Group Launches ALMANAR, Its First Integrated Community in Makkah . Saudi Press Agency . 2024-04-01.
  14. News: . 2024-03-31 . Saudi’s ROSHN unveils new residential project in Greater Dammam . Gulf Business . 2024-04-25.
  15. https://www.roshn.sa/en/news/ROSHN-Stadium
  16. News: . 2023-07-31 . ROSHN gets award recognizing workplace culture for 3rd year in a row . Arab News . 2024-02-01.