Feb 05, 2025
ROSHN Group, Saudi Arabia’s leading multi-asset class real estate developer and a PIF Company, has agreed a two billion Saudi Riyal Shariah-compliant credit facility with Saudi National Bank, Saudi’s largest financial institution. The loan agreement, which is for seven years, will be used to finance the acquisition of ROSHN Front.
This strategic move strengthens ROSHN’s growth and drives ROSHN Front’s long-term success by enriching its retail and commercial landscape, elevating tenant experience, and attracting top-tier brands and businesses.
The purchase of ROSHN Front marked ROSHN Group’s expansion in two new verticals, namely commercial and retail. Opened in 2019, ROSHN Front has become a premier destination for shoppers and businesses, attracting over 7 million visitors annually. ROSHN Front—Retail, with a leasable area of over 81,800 square meters, is home to premier retail and F&B brands, while ROSHN Front—Business, with a leasable area of over 78,900 square meters, is occupied by reputed government, private sector, and multinational entities.
“This agreement with Saudi National Bank marks a key milestone for ROSHN Group, enabling us to unlock significant value from this acquisition, creating long-term benefits for our stakeholders and the communities we serve,” said Avinash Pangarkar, Group Chief Finance Officer, ROSHN Group. “I am deeply grateful to everyone involved in this agreement that drives both financial growth for ROSHN Group and enhances the quality of life for those we serve.”
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