PIF-backed Roshn acquires Riyadh Front

PIF-backed Roshn acquires Riyadh Front
Source: Zawya

Roshn, a leading Saudi real estate developer backed by the Public Investment Fund has acquired Riyadh Front’s shopping and business areas, located adjacent to its flagship development, Sedra.

The purchase of existing commercial and retail space from Riyadh Front Company comes in line with the company strategy to become the region’s biggest multi-asset class real estate developer.

“As a national developer with a long-term vision, we see a unique opportunity to integrate the world class commercial and retail real estate of Riyadh Front with our groundbreaking Sedra community, providing residents with improved access to amenities, exclusive promotions, rewards programs and e-commerce options. The potential synergies are immense,” said  David Grover, CEO of Roshn.

Roshn has signed a property management agreement with Riyadh Front original developer, Kaden Investment, in order to ensure best-in-class service levels to tenants and visitors.

Riyadh Front was opened by Kaden in 2019, and since then it has become a key attraction in Riyadh’s commercial and retail landscape.

Riyadh Shopping Front is a mixed-use lifestyle mall of 80,000 sq m that includes a diverse range of tenants such as Vox Cinemas, Magic Planet, Huawei, Alfa Foods, Amazon and IWG Spaces and It receives over 10 million visitors annually.

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