ROSHN, the national real estate developer wholly owned by the Public Investment Fund and Rotana Star Neon Company, signed an agreement to sponsor the Jeddah waterfront and rename it to “ROSHN Waterfront.” The signing ceremony took place in the presence of Jeddah Mayor Saleh bin Ali Al-Turki.

The waterfront is one of the most important landmarks in Jeddah, which was redeveloped and opened in 2017, with approximately 55 million visitors annually. It stretches on the Red Sea coast at a length of 4 kilometers and consists of seven diverse recreational areas targeting families and children.

The agreement is in line with ROSHN’s efforts to support the goals of Saudi Vision 2030 to provide a higher quality of life for the Kingdom’s citizens and residents.

Commenting on the agreement, Sabah Barakat, group chief operating officer of ROSHN, said: “We were pleased by the attendance of His Excellency Saleh Al-Turki at the signing ceremony of the sponsorship agreement and the renaming of the Jeddah waterfront. We in ROSHN are keen to diversify our partnerships and efforts to ensure the provision of a higher quality of life in the Kingdom. The waterfront is part of our endeavor to activate the role of social responsibility and provide higher quality lifestyles.”

ROSHN is a national real estate developer powered by the Saudi Public Investment. Its mandate is to provide high-quality living standards for Saudis and to support government efforts to increase citizens’ home ownership rates. The announcement of the waterfront agreement comes after ROSHN launched the ALAROUS Project in Jeddah, which is the company’s second project in the Kingdom after SEDRA community in Riyadh.