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Strong Demand for Saudi ‘ROSHN’ Residential Projects, SAR 37.5 Bln Contracts in New Sectors

ALFULWA project in Al-Ahsa, Saudi Arabia (ROSHN)
ALFULWA project in Al-Ahsa, Saudi Arabia (ROSHN)
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Strong Demand for Saudi ‘ROSHN’ Residential Projects, SAR 37.5 Bln Contracts in New Sectors

ALFULWA project in Al-Ahsa, Saudi Arabia (ROSHN)
ALFULWA project in Al-Ahsa, Saudi Arabia (ROSHN)

Sources within Saudi Arabia’s Public Investment Fund-owned real estate company, “ROSHN,” have revealed that its projects are experiencing substantial demand, surpassing its residential offerings.

ROSHN has awarded commercial contracts worth SAR 37.5 billion (approximately $10 billion) to develop projects in various sectors, including retail, hospitality, education, healthcare, logistics services, and mosque construction.

Additionally, it was disclosed that 100% of the units in the first phase of the “SEDRA” project, located north of Riyadh, have been sold.

Furthermore, sales of the second phases of both the “SEDRA” project in Riyadh and the “ALAROUS” project in Jeddah have approached the 7,000-unit mark.

Established in 2020, ROSHN is a national real estate development company and one of the major projects under the Saudi Public Investment Fund (PIF).

Its chairman is Saudi Crown Prince Mohammed bin Salman bin Abdulaziz, who also serves as the head of the Council of Ministers and the Council of Economic and Development Affairs.

Committed to enhancing the quality of life across the kingdom, ROSHN operates in four main regions: Riyadh, Makkah, the Eastern Province, and Asir.

Sources, in exclusive statements to Asharq Al-Awsat, revealed that the total land area where ROSHN operates currently exceeds 200 million square meters.

This includes 20 million square meters for the SEDRA project in Riyadh, 1.4 million square meters for the WAREFA project in Riyadh, 4 million square meters for the ALAROUS project in Jeddah, and 10.8 million square meters for the ALFULWA project in Al-Ahsa.

Sources emphasized the company’s commitment to providing homes for more than 2.2 million Saudi citizens by 2030, through the delivery of over 400,000 high-quality residential units within the ROSHN communities across different regions of the kingdom.

“We took the initial steps towards achieving this goal in 2021 when we launched the first phase of the SEDRA project in Riyadh, which was completely sold out,” ROSHN sources, who requested anonymity, told Asharq Al-Awsat.

“Since then, unit sales have commenced in the second phase of both the SEDRA project and the ALAROUS project in Jeddah, both of which have witnessed remarkable interest from buyers, resulting in the sale of more than 6,859 residential units,” they added.

“Over 700 of these units have already been handed over in the SEDRA community, marking the first large-scale projects to be delivered to customers,” sources explained.

“Our projects extend beyond residential offerings to encompass various other vital sectors, including retail, healthcare, education, mosques, entertainment, and logistics services.”

“For instance, we recently acquired two million square meters of commercial space on Riyadh’s forefront, representing a promising opportunity for ROSHN and investors, and more importantly, for Saudi citizens,” sources clarified.

ROSHN intends to build upon its successes in 2022 and achieve even greater accomplishments in both 2023 and 2024.

The company aims to continue surpassing its development and sales targets, based on information from sources who indicated that construction activities are progressing rapidly across various projects. These efforts align with our goals that are in line with Saudi Arabia’s Vision 2030.

Regarding the assessment and pricing of the company’s products, sources clarified that the real estate unit prices are aimed at enhancing ROSHN’s competitive edge.

These prices are based on comprehensive market research to ensure the company’s ability to offer products that align with the needs, expectations, and aspirations of Saudi citizens.

ROSHN’s residential offerings cater to the housing needs of all Saudi citizens, whether they are single individuals or multi-family households, with various sizes and designs.

Furthermore, it was noted that all of the company’s projects have garnered significant interest in the market.

For instance, 100% of the units in the first phase of the SEDRA project, located north of Riyadh, have been successfully sold.

The company has witnessed strong interest from customers and investors across different market segments, resulting in a substantial increase in sales and expansion into new market sectors driven by high and growing demand.

In line with this, ROSHN is planning to soon launch a diverse range of products characterized by spacious layouts and new features.

This move reflects the company’s commitment to adapting to the evolving market dynamics and meeting the evolving preferences of its clientele.

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Business

Lebanese Cabinet Approves Draft Law on Financial Crisis Losses

A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)
A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)
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Lebanese Cabinet Approves Draft Law on Financial Crisis Losses

A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)
A photograph released by the Lebanese Government Press Office on December 26, 2025, show Prime Minister Nawaf Salam speaking during a press conference after a cabinet session in Beirut on December 26, 2025. (Photo by Handout / Lebanese Government Press Office / AFP)

Lebanon's government on Friday approved a draft law to distribute financial losses from the 2019 economic crisis that deprived many Lebanese of their deposits despite strong opposition to the legislation from political parties, depositors and banking officials.

The draft law will be submitted to the country's divided parliament for approval before it can become effective.

The legislation, known as the "financial gap" law, is part of a series of reform measures required by the International Monetary Fund (IMF) in order to access funding from the lender.

The cabinet passed the draft bill with 13 ministers in favor and nine against. It stipulates that each of the state, the central bank, commercial banks and depositors will share the losses accrued as a result of the financial crisis.

Prime Minister Nawaf Salam defended the bill, saying it "is not ideal... and may not meet everyone's aspirations" but is "a realistic and fair step on the path to restoring rights, stopping the collapse... and healing the banking sector.”

According to government estimates, the losses resulting from the financial crisis amounted to about $70 billion, a figure that is expected to have increased over the six years that the crisis was left unaddressed.

Depositors who have less than $100,000 in the banks, and who constitute 85 percent of total accounts, will be able to recover them in full over a period of four years, Salam said.

Larger depositors will be able to obtain $100,000 while the remaining part of their funds will be compensated through tradable bonds, which will be backed by the assets of the central bank.

The central bank's portfolio includes approximately $50 billion, according to Salam.

The premier told journalists that the bill includes "accountability and oversight for the first time.”

"Everyone who transferred their money before the financial collapse in 2019 by exploiting their position or influence... and everyone who benefited from excessive profits or bonuses will be held accountable and required to pay compensation of up to 30 percent of these amounts," he said.

Responding to objections from banking officials, who claim components of the bill place a major burden on the banks, Salam said the law "also aims to revive the banking sector by assessing bank assets and recapitalizing them.”

The IMF, which closely monitored the drafting of the bill, previously insisted on the need to "restore the viability of the banking sector consistent with international standards" and protect small depositors.

Parliament passed a banking secrecy reform law in April, followed by a banking sector restructuring law in June, one of several key pieces of legislation aimed at reforming the financial system.

However, observers believe it is unlikely that parliament will pass the current bill before the next legislative elections in May.

Financial reforms in Lebanon have been repeatedly derailed by political and private interests over the last six years, but Salam and Lebanese President Joseph Aoun have pledged to prioritize them.

Business

Türkiye Says Russia Gave It $9 Billion in New Financing for Akkuyu Nuclear Plant

Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)
Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)
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Türkiye Says Russia Gave It $9 Billion in New Financing for Akkuyu Nuclear Plant

Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)
Türkiye’s Energy Minister Alparslan Bayraktar talks during a meeting in Ankara, Türkiye, September 14, 2023. (Reuters)

Türkiye's energy minister said Russia had provided new financing worth $9 billion for the Akkuyu nuclear power plant being built by ​Moscow's state nuclear energy company Rosatom, adding Ankara expected the power plant to be operational in 2026.

Rosatom is building Türkiye's first nuclear power station at Akkuyu in the Mediterranean province of Mersin per a 2010 accord worth $20 billion. The plant was expected ‌to be operational ‌this year, but has been ‌delayed.

"This (financing) ⁠will ​most ‌likely be used in 2026-2027. There will be at least $4-5 billion from there for 2026 in terms of foreign financing," Alparslan Bayraktar told some local reporters at a briefing in Istanbul, according to a readout from his ministry.

He said ⁠Türkiye was in talks with South Korea, China, Russia, and ‌the United States on ‍nuclear projects in ‍the Sinop province and Thrace region, and added ‍Ankara wanted to receive "the most competitive offer".

Bayraktar said Türkiye wanted to generate nuclear power at home and aimed to provide clear figures on targets.

Business

China Bets on Advanced Technologies to Revive Tepid Industrial Sector

A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)
A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)
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China Bets on Advanced Technologies to Revive Tepid Industrial Sector

A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)
A humanoid robot Tiangong by Beijing Innovation Center of Humanoid Robotics Co, moves an orange as a demonstration at its company, during an organized media tour to Beijing Robotics Industrial Park, in Beijing Economic-Technological Development Area, also known as Beijing E-Town, China May 16, 2025. (Reuters)

China pledged on Friday to double down on upgrading its manufacturing base and ​promised capital to fund efforts targeting technological breakthroughs, after its industrial sector delivered an underwhelming performance this year.

China's industry ministry expects output of large industrial companies to have increased 5.9% in 2025 compared with 2024, state broadcaster CCTV said on Friday, almost unchanged from the 5.8% pace in 2024.

It would also be less than the ‌6% pace ‌of the first 11 months of ‌2025, ⁠based ​on ‌data released by the National Bureau of Statistics, as a weak Chinese economy suppressed domestic demand.

Industrial output, which covers industrial firms with annual revenue of at least 20 million yuan ($2.85 million), recorded growth of 4.8% in November, the weakest monthly year-on-year rise since August 2024.

Chinese policymakers have been looking ⁠to create new growth drivers in the economy by focusing on advancing ‌its industrial sector.

China has also vowed stronger ‍efforts to achieve technological self-reliance ‍amid intensifying rivalry with the United States over dominance ‍in advanced technology.

At the annual two-day national industrial work conference in Beijing that ended on Friday, officials pledged to deliver major breakthroughs in building a "modern industrial system" anchored by advanced manufacturing.

The ​focus will be on sectors such as integrated circuits, low-altitude economy, aerospace and biomedicine, an industry ministry ⁠statement showed.

The statement comes after China launched on Friday a national venture capital fund aimed at guiding billions of dollars of capital into "key hard technologies" such as quantum technology and brain-computer interfaces.

On artificial intelligence, the industry ministry said it will expand efforts to help small and medium-sized enterprises adopt the technology, while fostering new intelligent agents and AI-native companies in key industries.

Officials also vowed to "firmly curb" deflationary price wars, dubbed "involution", referring to excessive and low-return competition among ‌firms that erodes profits.