Business

 ROSHN Group, a leading real estate developer in Saudi Arabia and a Public Investment Fund (PIF) company, has secured a two billion Saudi Riyal Shariah-compliant credit facility from Saudi National Bank, the kingdom's largest financial institution. The seven-year loan will fund the acquisition of ROSHN Front, a significant addition to ROSHN’s commercial and retail portfolio.

This strategic partnership strengthens ROSHN’s growth plans, enhancing the retail and commercial landscape of ROSHN Front, improving tenant experiences, and attracting top-tier brands and businesses. The acquisition is a key move in the company’s expansion into the commercial and retail sectors.

ROSHN Front, which opened in 2019, has rapidly become a premier destination for shopping and business, welcoming over 7 million visitors annually. The complex comprises ROSHN Front—Retail, with over 81,800 square meters of leasable space, housing leading retail and F&B brands, and ROSHN Front—Business, which offers over 78,900 square meters of space to esteemed government, private sector, and multinational organizations.

Avinash Pangarkar, Group CFO of ROSHN Group, expressed his satisfaction with the agreement, saying, “This partnership with Saudi National Bank marks a significant milestone, unlocking value from this acquisition that will benefit our stakeholders and communities. We are grateful to everyone involved in this deal that supports our financial growth and improves quality of life.”

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