Riyadh – 26 January 2023 - ROSHN Real Estate (ROSHN), a GIGA project, the national real estate developer of Saudi Arabia and one of the Saudi Public Investment Fund's projects, has signed an agreement of cooperation with the Eastern Province Municipality. According to the memorandum, the two sides will collaborate on constructing model residential districts to improve the urban landscape and quality of life, as well as designing and implementing the urban code, infrastructure, and building controls inspired by the Eastern Province's urban legacy. The memorandum also seeks to identify appropriate sites and incorporate them into comprehensive regional and local plans in accordance with the Strategic Vision for Regions and Cities.

“This kind of agreement enhances the financial suitability and raises the bar quality of life and community’s development and construction,” stated His Excellency, Engineer Fahd bin Muhammad Al-Jubeir commenting on this occasion.

"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," said David Grover, CEO of ROSHN Group. " We are always proud to collaborate with government authorities to contribute to the improvement and growth of the Kingdom's urban landscape," he added.

The signing of the memorandum of understanding is part of the company's commitment to creating vibrant urban communities across the Kingdom's regions. Through the humanisation of cities, the creation of pedestrian-friendly streets, green spaces, and retail facilities in addition to hospitals, medical centres, mosques, and sports facilities, "ROSHN" hopes to strengthen the urban fabric and promote a unique and healthy lifestyle.