ROSHN Group, a prominent real estate developer, has established collaborative agreements with four leading financial institutions in Saudi Arabia—Arab National Bank, Bank Albilad, Bank AlJazira, and Riyad Bank. These partnerships are geared toward providing a comprehensive suite of financial services to the group’s associated sub-developers and contractors.
The agreements are designed to supply specialized banking services, which underscore ROSHN Group’s dedication to supporting the Kingdom’s private sector and promoting the efficiency of its various projects. This initiative is particularly significant as it aligns with the group’s role in facilitating the Kingdom’s Vision 2030 objectives, which include economic diversification and increased homeownership.
As part of the collaboration, the quartet of banks will offer enhanced banking services to the sub-developers and contractors recommended by ROSHN. These services encompass a range of financial support measures, including swift account openings, expedited credit evaluations, and access to credit facilities for qualified clients, all featuring competitive profit margins and coverage ratios.
ROSHN Group’s Chief Financial Officer, Avinash Pangarkar, remarked, “These agreements reflect our resolve to fortify the private sector. They enable quicker and more efficient financial services, allowing for the planning and execution of more substantial and visionary projects. This, in turn, contributes to the sustainable growth of sub-developers and contractors. As a catalyst for Vision 2030, we are confident that these strategic partnerships will enhance the operational excellence and pace of our project deliveries, furthering ROSHN’s support for the private sector and our commitment to the Kingdom’s broader economic goals.”