ROSHN Group Secures Two Billion Saudi Riyal Shariah-Compliant Credit Facility from Saudi National Bank - Middle East Business News and Information
The agreement with Saudi National Bank marks a significant step forward for ROSHN Group.
This funding will cover the acquisition of ROSHN Front.
Riyadh– ROSHN Group, Saudi Arabia's leading multi-asset class real estate developer and a PIF Company, has agreed a two billion Saudi Riyal Shariah-compliant credit facility with Saudi National Bank, Saudi's largest financial institution. The loan agreement, which is for seven years, will be used to finance the acquisition of ROSHN Front.
This strategic move strengthens ROSHN's growth and drives ROSHN Front's long-term success by enriching its retail and commercial landscape, elevating tenant experience, and attracting top-tier brands and businesses.
The purchase of ROSHN Front marked ROSHN Group's expansion in two new verticals, namely commercial and retail. Opened in 2019, ROSHN Front has become a premier destination for shoppers and businesses, attracting over 7 million visitors annually. ROSHN Front—Retail, with a leasable area of over 81,800 square meters, is home to premier retail and F&B brands, while ROSHN Front—Business, with a leasable area of over 78,900 square meters, is occupied by reputed government, private sector, and multinational entities.
'This agreement with Saudi National Bank marks a key milestone for ROSHN Group, enabling us to unlock significant value from this acquisition, creating long-term benefits for our stakeholders and the communities we serve,' said Avinash Pangarkar, Group Chief Finance Officer, ROSHN Group. 'I am deeply grateful to everyone involved in this agreement that drives both financial growth for ROSHN Group and enhances the quality of life for those we serve.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Tahya Masr
2 days ago
- Tahya Masr
Nasdaq Dubai Welcomes Mashreq's USD 500 Million Sukuk Listing
Nasdaq Dubai welcomed Mashreq's (''Mashreq'' or ''the Bank'') debut listing on the exchange with the admission of a USD 500 million Sukuk issued by Mashreq Al Islami Sukuk Company Ltd . The Trust Certificates, due in 2030, were issued under Mashreq's USD 2.5 billion Trust Certificate Issuance Programme and are being admitted as a secondary listing following strong demand in the primary market. This marks an important milestone for Mashreq as it expands its access to international capital markets and strengthens its presence in the Islamic finance space. It also reflects Nasdaq Dubai's continued role in connecting regional issuers with a global investor base through a well-regulated and diversified platform. Senior officials from Mashreq, including Ahmed Abdelaal, Group Chief Executive Officer; Joel Van Dusen, Group Head of Corporate & Investment Banking; and Salman Hadi, Group Head of Treasury & Global Markets, attended the market opening ceremony at Nasdaq Dubai to celebrate the listing. The bell was rung by Ahmed Abdelaal in the presence of Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM). Abdul Aziz Al Ghurair, Chairman of Mashreq, commented: "This Sukuk listing marks an important step in Mashreq's commitment to strengthening the global Islamic finance landscape. It is a clear demonstration of Mashreq's long-term commitment to Islamic finance, the deepening of cross-border capital flows, and the UAE's continued emergence as a global nexus for ethical and Sharia-compliant financing. Through this programme, we are proud to reinforce investor trust and contribute meaningfully to the maturing of Islamic capital markets . Ahmed Abdelaal, Group Chief Executive Officer, Mashreq said: 'Our debut listing on Nasdaq Dubai marks a new chapter in Mashreq's capital markets journey. This Sukuk issuance not only attracted strong investor interest, but also affirms our disciplined approach to funding, even in a complex macro environment. As we continue to diversify our capital structure through Sharia-compliant channels, we remain committed to delivering strong fundamentals, market transparency, and sustainable value for all stakeholders. Hamed Ali, CEO of Nasdaq Dubai and Dubai Financial Market (DFM), said: 'This listing reflects Mashreq's growing ambitions in the Islamic finance sector and underscores our role as a leading marketplace that connects regional issuers with global investors. As Dubai continues to strengthen its capital markets infrastructure, we remain committed to providing an efficient and transparent platform that supports diverse financing needs and promotes sustainable growth across the financial ecosystem. This landmark Sukuk issuance marked Mashreq's successful return to the international debt capital markets. It was also the first public issuance from the CEEMEA region since the announcement of U.S. tariffs in April 2025, which had triggered heightened volatility across global markets. The success of this transaction renewed market participants' confidence, and was followed by a string of issuances, thereby helping to reopen the market for regional issuers. The transaction attracted significant investor interest, resulting in an orderbook of USD 2.9 billion, nearly six times oversubscribed. The final pricing was tightened to UST +105 basis points with a fixed profit rate of 5.03% per annum, reflecting the strength and quality of the orderbook and strong investor confidence in Mashreq's credit fundamentals. With broad participation from over 90 global investors across the Middle East, Europe and Asia, the issuance reaffirms Mashreq's leadership in Islamic finance and reinforces Dubai's growing stature as a global hub for Sharia-compliant capital markets. With this listing, the total value of Sukuk listed on Nasdaq Dubai has reached USD 97.2 billion, further strengthening the exchange's position as one of the world's largest centres for Islamic fixed income. The overall value of debt securities listed on Nasdaq Dubai now stands at over USD 140 billion, across 163 issuances. These figures reflect the depth and maturity of the UAE's capital markets, as well as the growing appeal of Dubai as a gateway for regional and international investment.
Mid East Info
2 days ago
- Mid East Info
As part of national initiatives to enhance pilgrim's experiences, ROSHN Group Collaborates with the Ministry of Defense to Enrich the Hajj Experience
ROSHN Group, Saudi Arabia's leading multi-asset real estate developer and a PIF company, is proud to serve as a Main Sponsor of the 1446H Hajj Season Support Program, under the supervision of the Ministry of Defense's General Directorate for Safety Services. The program aims to serve more than 50,000 pilgrims, including Ministry personnel, guest pilgrims from within the Kingdom and abroad, and the families of martyrs and active-duty soldiers. ROSHN Group's contribution involves providing vital supplies and support services across the holy sites, helping ensure a dignified, safe, and comfortable pilgrimage for all. This collaboration reflects the Group's commitment to national initiatives and community well-being. It aligns with the goals of Saudi Vision 2030, particularly the Pilgrims Experience Program, which seeks to enrich the spiritual journey of every pilgrim while enhancing the Kingdom's standards of hospitality and care.
Mid East Info
2 days ago
- Mid East Info
ROSHN Group Signs MoU with Singapore Cooperation Enterprise Under ROSHNEXT to Promote Real Estate Innovation
The visit is part of the ROSHNEXT innovation program, which is designed to develop human-centric experiences that accelerate growth, enhance collaboration, and establish new standards within the real estate sector. Meetings were also undertaken with leading innovators in academia and industry to exchange insights on applied research and development, explore ideas for workforce upskilling, and co-development innovation programs for the real estate industry. RIYADH,June 2025 – ROSHN Group, Saudi Arabia's leading multi-asset real estate developer and a Public Investment Fund (PIF) company, has signed a memorandum of understanding with the Singapore Cooperation Enterprise as part of its ROSHNEXT innovation program, aimed at exploring institutional partnerships, sharing best practices in urban governance, and identifying collaboration frameworks for improved master planning and commercial sourcing. The MoU was signed during a visit undertaken by ROSHN Group senior representatives to explore collaboration with Singaporean entities in the real estate industry. During the visit, the Group engaged with several of Singapore's government organizations, educational institutions, and businesses to share insights, promote collaboration, and initiate discussions around a long-term partnership to foster innovation between the two countries. ROSHN Group's senior representatives met with leading innovation leaders in academia and industry to exchange insights on applied research and development, explore ideas for workforce upskilling, and co-develop innovation programs tailored for the real estate sector. The Group also met with property technology organizations and developers to discuss innovations in end-to-end urban planning, engineering, and infrastructure delivery. 'At ROSHN Group and under ROSHNEXT, our innovation program, we believe Singapore's advancement in urban development present valuable opportunities for knowledge sharing and collaboration,' said Yassen Kattan, Chief Officer Strategy & Corporate Affairs of ROSHN Group. 'The visit and MoU with Singapore Cooperation Enterprise opens the door to long-term collaboration to push the boundaries of what is possible in terms of developing futuristic, human-centric developments, by enabling us to integrate innovation into the way we design, develop, and operate destinations that redefine modern living and contribute to Saudi Arabia's transformation into a knowledge and innovation-driven economy.'
