ROSHN and MCIT sign MOU to accelerate digital transformation and develop integrated residential neighborhoods
The national community developer ROSHN signed a memorandum of understanding (MOU) with the Ministry of Communications and Information Technology (MCIT).
- MOU shows the importance of high-quality digital infrastructure for building modern, integrated communities
- The two organizations will work together on encouraging investment and helping to advance the Kingdom’s ICT and digital sectors
Riyadh - 20 December 2021: The national community developer ROSHN signed a memorandum of understanding (MOU) with the Ministry of Communications and Information Technology (MCIT). The MOU signifies the cooperation of the two organizations to support the Kingdom’s digital infrastructure, encourage local and foreign investment in ICT and digital technologies, and oversee an appropriate regulatory environment to accelerate digital transformation and the development of integrated residential neighborhoods.
The two sides will cooperate on a number of topics, foremost of which is stimulating and developing investment plans in digital infrastructure, including for self-driving vehicles. They will also focus on attracting international investment in smart cities, emerging technologies, and technology localization, in addition to preparing business models for developing digital infrastructure with telecommunications companies. They will also develop digital solutions for smart homes and neighborhoods to be applied across ROSHN’s projects.
The memorandum also includes a joint focus on developing data centers and technical research centers to help draw further investment, in addition to building up logistics services that support e-commerce.
Commenting on the memorandum, Eng. Bassam Al-Bassam, Deputy Minister for Telecom & Digital Infrastructure at MCIT, said, “The partnership between the ministry and ROSHN will employ both entities’ expertise in a way that supports the strategic direction of the sector in line with the Kingdom’s ambitious Vision 2030. Together, we will help bring smart homes and digital solutions to Saudi neighborhoods, thus raising the overall quality of life.”
Sabah Barakat, Group Chief Operating Officer of ROSHN, spoke in support of the MOU, “We are committed to developing a modern digital infrastructure that meets the needs and aspirations of ROSHN communities and is in line with Vision 2030’s goal to transform Saudi Arabia into a leading digital society.”
All of this is crucial to ROSHN and MCIT’s larger efforts to build a digital society, a digital government, and a prosperous digital economy in order to secure a better future for the Kingdom.
ROSHN is a national community developer, powered by Saudi Arabia’s Public Investment Fund (PIF). It has a mandate to deliver high-quality living standards to Saudis and support government efforts to increase rates of home ownership. ROSHN builds communities that look both to Saudi heritage and the evolving aspirations of the Saudi people.
ROSHN’s first project, SEDRA, located just south of Riyadh’s King Khalid International Airport, is an integrated, walkable community designed to enhance interaction between residents and encourage a healthy lifestyle with a variety of essential facilities such as green spaces, cycle tracks, hospitals, medical centers, schools, mosques, and retail outlets.
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