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Roshen and TMG plan 55,000 Riyadh homes
The Saudi companies "Rosen" and Talaat Moustafa "TMG" have signed an agreement to develop a mixed-use project in Riyadh comprising over 55,000 residential units, along with commercial, office, hospitality, entertainment, health, and educational components, as well as gardens and public spaces. Talaat Moustafa Saudi Arabia owns 51% of the project, while Rosen holds 49%. The project aims to support the Saudi company's expansion in the local market and enhance cash flows in foreign currencies. This follows a memorandum of understanding with the Public Investment Fund in June of the previous year.
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