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29-01-23
PIF’s ROSHN to establish model housing districts in Saudi Arabia’s Eastern Area
(MENAFN) Saudi Arabia’s national real estate developer ROSHN has inked a deal with the Eastern Province municipality to expand the sector’s urban landscape as well as the quality of life.
Along with the memorandum of understanding the two parties are going to cooperate on establishing model residential districts, in addition to designing and applying the urban code, infrastructure, as well as building controls stimulated by the Eastern Province's urban legacy.
The deal also looks to signify suitable sites and include them into regional and local preparations in line with the Strategic Vision for Regions and Cities.
David Grover, chief executive of ROSHN Group – one of the Saudi Public Investment Fund's ventures – stated that “Today, we are working to develop urban concepts that represent the standards of quality of life and are compatible with the aspiration of Saudi society while depending on our trusted partners such as the Eastern Province Municipality.”
He also added: “We are always proud to collaborate with government authorities to contribute to the improvement and growth of the Kingdom's urban landscape.”
MENAFN29012023000045014228ID1105490712
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