PIF’s ROSHN shifts focus to multi-asset development in rebranding push

ROSHN Group has rebranded as a multi-asset developer, expanding its focus beyond residential projects to create sustainable, mixed-use communities across Saudi Arabia as the master developer broadens its focus from residential projects to a broader range of multi-asset developments.

The firm, owned by the Public Investment Fund, is set to unveil a portfolio of transformative projects that will mark a significant milestone in its journey.

The projects will showcase an exceptional diversity of assets, creating unparalleled investment opportunities, elevating living standards, and driving economic growth.

ROSHN’s new portfolio will encompass its core asset classes of 200 million square meters of residential property and four million square meters of gross leasable area retail, commercial, and hospitality. It will also include the developer’s education, mosques, and healthcare assets, as well as opportunity assets of transport and logistics, including warehouses, industrial parks, and knowledge hubs.

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— ROSHN Group | مجموعة روشن (@Roshnksa) November 10, 2024

“With the evolution, the vision to transform urban living is becoming more tangible as we introduce our expanded approach and dedication to improving quality of life through iconic new destinations across the kingdom,” said Ghada Al Rumayan, ROSHN’s chief marketing & communication officer.

“Our growing portfolio now seamlessly integrates forward-thinking amenities and elevated connectivity, fostering opportunities for commercial partnerships, job creation, investment, and economic growth in alignment with Saudi Vision 2030.”

ROSHN will develop its diverse assets beyond its integrated communities, enabling it to amplify living standards, foster economic growth, and contribute to societal progress in alignment with Vision 2030 objectives.

Founded in 2020, the master developer is building close to 400,000 homes across Saudi Arabia, along with about 1,000 schools, as well as entire commercial and entertainment districts. The developments are part of a plan to upgrade infrastructure in the world’s biggest oil exporter and help diversify the economy away from hydrocarbons.

Saudi Arabia’s construction sector is booming, with a 4.3 per cent surge in output value in H1 2024 to reach a total of $141.5bn across key sectors, including residential, institutional, infrastructure, industrial, energy and utilities, and commercial.

Read: ROSHN CEO David Grover on transforming Saudi’s housing sector