ROSHN Group, Saudi Arabia’s leading multi-asset real estate developer and a PIF company, has signed a wide-ranging memorandum of collaboration (MoC) with the Ministry of Municipalities and Housing (MOMAH), represented by the Ministry’s Agency for Housing Supply Stimulus and Real Estate Development, aimed at developing operational processes and frameworks for the kingdom’s real estate development sector.

The MoC covers areas such as innovation in permits and approval systems, smart mechanisms for data exchange and analysis, the co-designing of new, innovative models to better integrate community services and the rollout of pilot programmes that will enhance the quality of life and the residents experience across the kingdom.

It  was signed under ROSHN Group’s Building Bridges initiative, a part of its strategy to engage and collaborate with key governmental entities to foster innovation and promote development that will contribute to the Vision 2030 goals.

The MoC was sealed by Abdulrahman AlTawil, the Deputy Minister for Housing Supply Stimulation and Real Estate Development, and Yassen Kattan, Chief Strategy and Corporate Affairs Officer at ROSHN Group’s SEDRA Sales Centre.

“Collaboration and partnerships are a key element of our approach to achieving ROSHN Group’s goals, and we are excited about what we can achieve through working together with the Ministry of Municipalities and Housing,” said Kattan.

“This memorandum represents a strategic step toward advancing innovation in the real estate sector by developing modern regulatory frameworks that accelerate the transition toward a more efficient and sustainable environment while fostering collaborative innovation. Through this, we also aim to enable new business models that support future infrastructure and drive innovation across the real estate sector, contributing to urban development and an enhanced quality of life,” stated Kattan.

ARAMCO HOME OWNERSHIP DEAL

In another development, ROSHN said it has signed a home ownership programme deal with Saudi Aramco.

Under this deal, ROSHN will provide special offers for eligible Aramco employees wishing to buy off-plan home in one of the group’s communities.

ROSHN Group’s portfolio spans integrated communities in Riyadh, Jeddah, Makkah, and Dhahran, mixed-use destinations such as ROSHN Front and MARAFY, and flagship sports facilities including ROSHN Stadium and Aramco Stadium.

The agreement builds upon the existing strategic partnership between the two organisations and covers a variety of ROSHN Group communities and units across the kingdom.

Under this agreement, Aramco employees enjoy special benefits when purchasing off-plan or under-construction units across most ROSHN communities in various regions of the kingdom, along with flexible payment plans tailored to their needs.

The Saudi PIF company’s move is aimed at embedding sustainability across the kingdom, and helping to raise the homeownership rate to 70 per cent, in alignment with Saudi Vision 2030.