ROSHN Group, Saudi Arabia’s leading national real estate developer and PIF-owned giga-project, has announced the signing of a Memorandum of Understanding (MoU) with Tsangs Group Holdings Limited and Hong Kong Ambassadors Club (HKAC). This agreement represents a significant step towards enhancing collaboration opportunities between the two parties in the field of technological investments. The MoU was signed by Yassen Kattan, Head of Strategic and Corporate Affairs at ROSHN Group, and Patrick Tsang, Chairman of Tsangs Group, Co-founder and Chairman of HKAC.
The GCEO of ROSHN Group, David Grover, stated: “Our collaboration with Tsangs Group and HKAC embodies our commitment to furthering Vision 2030’s objectives by fostering investment partnerships in the technology sector and building a diverse and sustainable economy. Investment in technology and innovation is one of the most resilient tools, capable of addressing changes. This MoU marks a pivotal moment for ROSHN, highlighting our role in promoting growth and prosperity in the Kingdom. Hong Kong has long served as a gateway and hub for technological investment in the Asia-Pacific region, and we are enthusiastic about our contribution to transforming the Kingdom into a global technology hub. We eagerly anticipate a more interconnected world ahead.”
This collaboration aims to contribute to achieving the targets of Vision 2030 by fostering investment partnerships in the technology sector and building a diverse and sustainable economy.
“We feel honored to sign this MoU with the renowned ROSHN Group, marking a humble milestone of further deepening of Saudi-Hong Kong ties. The Kingdom of Saudi Arabia is a staunch supporter of the Belt and Road Initiative, and every journey of ten thousand miles starts with a single step. For Tsangs Group, cherishing traditionally strong ties with the Gulf Arab region and in its quest to diversify investments, we are also upbeat about the Saudi Vision 2030, the master plan to transform the Saudi economy to a well-diversified ecosystem led by technology and digitization, creating jobs for Saudi nationals and investment opportunities for Hong Kong 3.0,” commented Patrick Tsang, Chairman of Tsangs Group.
“This MoU marks a pivotal moment for ROSHN, highlighting our role in promoting growth and prosperity in the Kingdom”
This partnership is expected to offer significant technological opportunities for both groups, paving the way for new avenues of collaboration and contribution in supporting innovation and economic diversification efforts and reinforcing Saudi Arabia’s position as a global technology center.
ROSHN’s collaboration with Tsangs Group and HKAC aligns with its strategy to partner with esteemed global entities, reinforcing its commitment to the principles of trust, integrity, responsibility, opportunity, and empowerment. This partnership highlights ROSHN’s steadfast dedication to align with the aspirations of Vision 2030, fostering both wellbeing and economic prosperity within its integrated communities as well as beyond.
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