ROSHN Group, a subsidiary of the Public Investment Fund (PIF), has signed a strategic memorandum of cooperation with the Ministry of Municipalities and Housing, represented by the ministry's Agency for Housing Supply Stimulus and Real Estate Development, to promote innovation in the Kingdom's real estate sector.

The memorandum was signed by the Deputy Minister for Housing Supply Stimulation and Real Estate Development, Abdulrahman Al-Tawil, and the Group Chief Strategy & Corporate Affairs Officer, Yassen Kattan.

According to ROSHN Group's post in X social media platform, the objectives of the memorandum include:

* Innovation and joint development - This covers creating smart solutions for permits, data analysis, and service integration, as well as conducting pilot trials and providing regulatory frameworks that support innovation in real estate development.

* Enhancing collaboration and data sharing - This involves sharing data, supporting innovation models, and collaboratively developing infrastructure and facilities with the possibility of expanding cooperation areas in the future.

This partnership is part of the "Building Bridges" initiative to enhance collaboration with relevant government entities and establish sustainable relationships with sector regulators, aiming to elevate the real estate landscape and achieve the objectives of Saudi Vision 2030, creating a more sustainable and prosperous urban future, it said. - TradeArabia News Service