ROSHN, Saudi Arabia's leading national real estate developer and PIF-funded giga-project, has signed a memorandum of understanding (MoU) and infrastructure agreement with stc group, the engine of digital transformation in the region, at the Cityscape Global forum in Riyadh to provide ROSHN communities with best-in-class, cutting-edge telecommunications access, coverage and connectivity, according to statement from ROSHN.
The statement said ROSHN and stc group would explore opportunities for collaboration around integrating cutting-edge connectivity and ICT solutions with ROSHN communities.
These will include 5G towers, smart home and smart city solutions, and implementing Big Data and Internet of Things (IoT) technologies that improve efficiency, accelerate connectivity and boost the quality of life for residents and visitors.
The MoU will also see ROSHN and stc explore the possibilities of a loyalty program for ROSHN community residents alongside adding stcpay for ROSHN online transactions.
Through the framework agreement, stc group will design, build, and operate a neutral host infrastructure for ROSHN's WAREFA community in Riyadh. This development will allow residents access to both fixed-fiber networks and accelerated wireless mobility connectivity, regardless of service provider.
David Grover, Group CEO of ROSHN, and Olayan Bin Mohammed Alwetaid, stc Group CEO, signed the agreements.
"The partnership agreement established between stc and ROSHN has been formulated as a strategic move towards the expansion and growth of the group,” said Alwetaid.
“The agreement aims to strengthen the group's digitally equipped capabilities and enable it to operate in new regions and projects across the Kingdom. We will equip a modern digital infrastructure and provide the latest digital solutions and services,” he said.
“Our innovative technologies will enrich the lives of society, as smart city technologies and applications will be reflected in ROSHN projects to enhance the quality of life. These efforts align with the vision's goals: to build a digital society, a prosperous digital economy, and a better future for the Kingdom,” Alwetaid added.
As for Grover, he stated: "At ROSHN, we are always seeking to form partnerships with companies and organizations that can deliver our residents the best-in-class services they expect from ROSHN communities and properties. These two agreements will ensure that residents of all our communities have access to up-to-the-minute digital tools required by the modern world, enabling them fast internet access, easy communications, and secure payment connections."
