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.



FII Institute Names Princess Maha bint Mishari Al Saud as CEO

Princess Maha bint Mishari bin Abdulaziz Al Saud (Asharq Al-Awsat file photo)
Princess Maha bint Mishari bin Abdulaziz Al Saud (Asharq Al-Awsat file photo)
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FII Institute Names Princess Maha bint Mishari Al Saud as CEO

Princess Maha bint Mishari bin Abdulaziz Al Saud (Asharq Al-Awsat file photo)
Princess Maha bint Mishari bin Abdulaziz Al Saud (Asharq Al-Awsat file photo)

The FII institute, run by a global nonprofit foundation of ⁠Saudi sovereign wealth ⁠fund PIF, has named ⁠Princess Maha bint Mishari bin Abdulaziz Al Saud as its CEO, according to ⁠the ⁠institute's website.

“With more than 25 years of leadership experience spanning healthcare, academia, strategic partnerships, and international engagement, Dr. Al Saud has built a distinguished career centered on creating impact through collaboration and institution-building. She has worked across the public, private, and nonprofit sectors to advance initiatives that strengthen organizations, expand opportunity, and improve lives,” the website said.

Before joining FII Institute, she served as Vice President of External Relations and Advancement at Alfaisal University.

She has helped expand strategic partnerships, deepen international engagement, and elevate the university’s global standing in education, research, and innovation.

“A recognized advocate for leadership, healthcare transformation, education, and human development, Dr. Al Saud has represented Saudi Arabia at major international forums, including the G20, and the fourth Eurasian Women’s Forum,” FII Institute said.

“Dr. Al Saud holds an MBBS degree and is certified by the American Board of Internal Medicine, having completed her residency training at George Washington University. Her executive credentials include the Senior Executive Leadership Program at Harvard Business School, IMD Business School and she holds the prestigious, peer-reviewed distinction of Master of the American College of Physicians (MACP),” it added.


Egypt Clears Arrears to Oil and Gas Companies

People walk past a shop selling football jerseys in Khan el-Khalily Bazar in Cairo on June 9, 2026. (AFP)
People walk past a shop selling football jerseys in Khan el-Khalily Bazar in Cairo on June 9, 2026. (AFP)
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Egypt Clears Arrears to Oil and Gas Companies

People walk past a shop selling football jerseys in Khan el-Khalily Bazar in Cairo on June 9, 2026. (AFP)
People walk past a shop selling football jerseys in Khan el-Khalily Bazar in Cairo on June 9, 2026. (AFP)

Egypt's Minister of Petroleum Karim Badawi said on Wednesday that the full settlement of arrears owed to oil and gas partners marked a turning point for the sector.

Badawi ‌said payment ‌of the arrears, "restores ‌investor confidence ⁠and paves the ⁠way for increased upstream activity and accelerated project development".

Egypt had accumulated about $6.1 billion in arrears to foreign oil companies by June ⁠30, 2024 due to ‌a ‌prolonged foreign currency shortage that delayed payments ‌and weighed on investment and ‌gas output. The shortage has since eased, though some companies have said that arrears kept ‌accumulating.

The minister said clearing the debt removed ⁠a ⁠key obstacle to new investment inflows and would support increased exploration, drilling and field development activity, including projects in the Mediterranean where development typically requires significant capital spending and years of work before production begins.


Saudi Economy Demonstrates Competitive Strength, Expands 3% in First Quarter

A view of the Saudi capital, Riyadh. (SPA)
A view of the Saudi capital, Riyadh. (SPA)
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Saudi Economy Demonstrates Competitive Strength, Expands 3% in First Quarter

A view of the Saudi capital, Riyadh. (SPA)
A view of the Saudi capital, Riyadh. (SPA)

Saudi Arabia’s economy has once again demonstrated the strength of its fundamentals and its ability to withstand regional shocks, posting real GDP growth of 3 percent year-on-year in the first quarter of 2026, despite escalating tensions across the Middle East that have disrupted supply chains and global trade flows.

The final official figures surpassed the earlier flash estimate of 2.8 percent. The upward revision reflected higher estimates from the General Authority for Statistics (GASTAT), which raised growth projections for both oil and non-oil activities to 2.9 percent. The Kingdom had recorded growth of 5.2 percent in the fourth quarter of 2025.

Saudi Arabia’s performance amid logistical challenges, including shipping disruptions through the Strait of Hormuz, recently received backing from an International Monetary Fund mission.

Following consultations in Riyadh, IMF experts said the Kingdom had successfully mitigated the effects of regional conflict and eased logistical bottlenecks through resilient infrastructure, the rapid deployment of the East-West pipeline and Red Sea ports, and strong financial buffers provided by the Public Investment Fund and a stable banking sector.

The IMF nevertheless revised its 2026 growth forecast for Saudi Arabia to 2 percent from a previous estimate of 3.1 percent, citing regional instability.

Broad-based expansion

According to GASTAT, first-quarter growth was driven by gains across all major sectors of the economy. Oil and non-oil activities each expanded 2.9 percent year-on-year, while government activities rose 1.5 percent.

On a seasonally adjusted basis, real GDP declined 1.2 percent from the fourth quarter of 2025, reflecting a 6.8 percent contraction in oil activities. Government and non-oil sectors, however, continued to post quarterly growth of 1.4 percent and 0.3 percent, respectively.

Financial services, insurance and business services recorded the strongest performance among detailed sectors, growing 5.4 percent year-on-year and 1.1 percent quarter-on-quarter.

Manufacturing activities, excluding oil refining, expanded 4 percent annually. Crude oil and natural gas activities grew 3.6 percent from a year earlier, despite a 7 percent quarterly decline linked to shipping disruptions.

Consumption and investment remain strong

Government final consumption expenditure rose 11.3 percent year-on-year and 8.5 percent quarter-on-quarter, while private consumption increased 5.3 percent annually.

Gross fixed capital formation climbed 3.9 percent year-on-year and 7.5 percent quarter-on-quarter, underscoring continued investment momentum. Exports increased 1.4 percent from a year earlier, while imports fell 5.5 percent.

Non-oil activities remained the primary driver of economic growth, contributing 1.7 percentage points to overall GDP expansion. Oil activities added 0.8 percentage points, while government activities and net taxes contributed 0.3 and 0.2 percentage points, respectively.

The IMF also praised the Saudi Central Bank (SAMA) for maintaining a countercyclical capital buffer of 100 basis points, noting that the Saudi riyal’s peg to the US dollar continues to bolster monetary-policy credibility and financial stability.

On structural reforms, the fund welcomed the recalibration of the Public Investment Fund’s 2026-2030 strategy, aimed at allocating capital more selectively and encouraging greater private sector participation.

It said continued progress toward the objectives of Vision 2030, including deeper capital markets, stronger alignment between education and labor market needs, and broader adoption of artificial intelligence and logistics technologies, remains essential to achieving sustainable economic diversification and safeguarding prosperity for future generations.