Construction & Real Estate

Roshn awards $2.1bn Saudi infrastructure project contracts

Roshn, a leading Saudi community developer powered by the kingdom's sovereign wealth fund PIF (Public Investment Fund), has signed agreements worth SR8 billion ($2.1 billion) with top construction firms for the development of modern infrastructure and facilities across the several projects it is developing in the kingdom.
These deal were inked on the sidelines of the inaugural PIF-backed Private Sector Forum that concluded in Riyadh recently.
A first-of-its-kind event, the forum was attended by leading PIF executives, ministers, senior government officials, and representatives from 50 PIF portfolio companies, as well as over 4,000 private sector participants from across Saudi Arabia, representing a broad range of sectors. 
On the strategic agreements, Roshn’s Chief Development Officer Oussama Kabbani pointed out that the pace of work at its project sites encourages the group to partner with the private sector to achieve its goals. 
These contracts were awarded to top builders including China Harbour Engineering Company, Shapoorji Pallonji, Ansab Contracting, Cityscape Group, Al Kifah Precast Company, Haif Company and Trans Contracting Company.  
"These types of partnerships are core to what we do at Roshn, as we are mandated to uplift the industry and raise the bar in the real estate sector by providing new modes of living that contribute to raising the quality of life in Saudi Arabia and Vision 2030 goals," he added.-TradeArabia News Service