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ROSHN Reveals Saudi Urban Transformation at MIPIM Real Estate Conference

ROSHN Reveals Saudi Urban Transformation at MIPIM Real Estate Conference
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ROSHN Reveals Saudi Urban Transformation at MIPIM Real Estate Conference

ROSHN Reveals Saudi Urban Transformation at MIPIM Real Estate Conference

ROSHN Group, Saudi Arabia’s leading real-estate developer and PIF-owned giga-project, showcased the Kingdom of Saudi Arabia’s urban transformation at the world-leading International Real Estate Professional Marketplace (MIPIM) in Cannes, France.

ROSHN said it attended as part of the largest-ever Saudi delegation to the event.

MIPIM, the world’s premier real-estate conference, brings together the most influential stakeholders across the industry. Throughout the four-day event, ROSHN’s booth in the Invest Saudi pavilion highlighted its unique value proposition and growth potential as the Kingdom’s future-focused, multi-asset developer of transformative mixed-use real estate, SPA reported.

ROSHN’s representatives also participated in panel discussions, sharing their insight and expertise with industry peers.

According to the statement, ROSHN’s strategic presence at MIPIM underscores its role as a critical enabler of Vision 2030 through sustainable, future-facing urban transformation that supports economic diversification, job creation, and boosts quality of life.

Taking an active role at the event, ROSHN further enhanced its position as a trusted global partner of choice for international investors looking to collaborate with a leading Saudi giga-project with one of the most diversified portfolios in the region.

Held at the Palais des Festival in Cannes on March 12-15, MIPIM welcomed more than 25,000 delegates, 6,500 investors, and over 300 exhibitors from 90 countries. This year’s event was designed to anticipate future trends through prospective information and the insights of top decision-makers, facilitating discussions on key themes such as urban development, sustainability, and innovation in the real-estate sector.

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Oil Prices Ease but Remain Near 2-week Highs on Russia, Iran Tensions

FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford//File Photo
FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford//File Photo
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Oil Prices Ease but Remain Near 2-week Highs on Russia, Iran Tensions

FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford//File Photo
FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas US August 22, 2018. Picture taken August 22, 2018. REUTERS/Nick Oxford//File Photo

Oil prices retreated on Monday following 6% gains last week, but remained near two-week highs as geopolitical tensions grew between Western powers and major oil producers Russia and Iran, raising risks of supply disruption.
Brent crude futures slipped 26 cents, or 0.35%, to $74.91 a barrel by 0440 GMT, while US West Texas Intermediate crude futures were at $70.97 a barrel, down 27 cents, or 0.38%.
Both contracts last week notched their biggest weekly gains since late September to reach their highest settlement levels since Nov. 7 after Russia fired a hypersonic missile at Ukraine in a warning to the United States and UK following strikes by Kyiv on Russia using US and British weapons.
"Oil prices are starting the new week with some slight cool-off as market participants await more cues from geopolitical developments and the Fed’s policy outlook to set the tone," said Yeap Jun Rong, market strategist at IG.
"Tensions between Ukraine and Russia have edged up a notch lately, leading to some pricing for the risks of a wider escalation potentially impacting oil supplies."
As both Ukraine and Russia vie to gain some leverage ahead of any upcoming negotiations under a Trump administration, the tensions may likely persist into the year-end, keeping Brent prices supported around $70-$80, Yeap added.
In addition, Iran reacted to a resolution passed by the UN nuclear watchdog on Thursday by ordering measures such as activating various new and advanced centrifuges used in enriching uranium.
"The IAEA censure and Iran’s response heightens the likelihood that Trump will look to enforce sanctions against Iran’s oil exports when he comes into power," Vivek Dhar, a commodities strategist at Commonwealth Bank of Australia said in a note.
Enforced sanctions could sideline about 1 million barrels per day of Iran’s oil exports, about 1% of global oil supply, he said.
The Iranian foreign ministry said on Sunday that it will hold talks about its disputed nuclear program with three European powers on Nov. 29.
"Markets are concerned not only about damage to oil ports and infrastructure, but also the possibility of war contagion and involvement of more countries," said Priyanka Sachdeva, senior market analyst at Phillip Nova.
Investors were also focused on rising crude oil demand at China and India, the world's top and third-largest importers, respectively.
China's crude imports rebounded in November as lower prices drew stockpiling demand while Indian refiners increased crude throughput by 3% on year to 5.04 million bpd in October, buoyed by fuel exports.
For the week, traders will be eyeing US personal consumption expenditures (PCE) data, due on Wednesday, as that will likely inform the Federal Reserve’s policy meeting scheduled for Dec. 17-18, Sachdeva said.