Latest news with #AvinashPangarkar
Mid East Info
08-02-2025
- Business
- Mid East Info
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.'
Trade Arabia
06-02-2025
- Business
- Trade Arabia
ROSHN secures $266m credit facility from Saudi National Bank
ROSHN Group, Saudi Arabia's leading multi-asset class real estate developer powered by Saudi wealth fund PIF, has announced that it has entered into a deal with Saudi National Bank to secure a SAR2 billion ($266 million) shariah-compliant credit facility. The loan agreement, which is for seven years, will be used to fund the acquisition of ROSHN Front, said a statement from ROSHN. The leading Saudi developer pointed out this strategic move strengthens its 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 the group's expansion in two new verticals - commercial and retail. Opened in 2019, the prime development has become a major destination for shoppers and businesses, attracting over 7 million visitors annually. ROSHN Front - Retail, with a leasable area of over 81,800 sq m, is home to premier retail and F&B brands, while ROSHN Front - Business, with a leasable area of over 78,900 sq m, is occupied by reputed government, private sector, and multinational entities. On the key funding, Group Chief Finance Officer Avinash Pangarkar said: "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." "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," he added. -TradeArabia News Service
Zawya
06-02-2025
- Business
- Zawya
Roshn wins $266mln credit facility from Saudi National Bank
ROSHN Group, Saudi Arabia's leading multi-asset class real estate developer and a PIF Company, has announced that it has entered into a deal with Saudi National Bank to secure a SAR2 billion ($266 million) shariah-compliant credit facility. The loan agreement, which is for seven years, will be used to fund the acquisition of ROSHN Front, said a statement from ROSHN. The leading Saudi developer pointed out this strategic move strengthens its 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 the group's expansion in two new verticals - commercial and retail. Opened in 2019, the prime development has become a major destination for shoppers and businesses, attracting over 7 million visitors annually. ROSHN Front - Retail, with a leasable area of over 81,800 sq m, is home to premier retail and F&B brands, while ROSHN Front - Business, with a leasable area of over 78,900 sq m, is occupied by reputed government, private sector, and multinational entities. On the key funding, Group Chief Finance Officer Avinash Pangarkar said: "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." "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," he added. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
