ROSHN acquires Riyadh Front project for over SAR 2 bln

Executives at the signing ceremony

ROSHN, a subsidiary of the Public Investment Fund (PIF), signed an agreement to acquire the Riyadh Front development, for over SAR 2 billion.

The agreement was signed by Riyadh Front Chairman Salama Saedan and ROSHN CEO David Grover.

The deal comes as part of ROSHN’s endeavor to develop a number of projects in four central regions of the Kingdom, with the aim of achieving its vision of creating residential neighborhoods, in addition to meeting the needs of residents of Riyadh by raising the quality of life within Vision 2030.

Saedan stated that the Riyadh Front project is considered one of the major commercial and office development that enjoys quality, efficiency and aesthetics, whether by design or implementation in Riyadh.

He added that the Riyadh Front comprises two areas, the shopping area that includes renowned brands in fashion, restaurants, cafes, and entertainment, and the business portion that houses several key international and local companies.

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