ROSHN's Urban Vision Gains Global Spotlight Amid Leadership Turmoil

Saudi Arabia’s state-backed real estate developer, ROSHN Group, has intensified its global outreach, showcasing its urban transformation initiatives at prominent international forums. However, the company's leadership dynamics have come under scrutiny due to a high-profile legal dispute involving its former CEO.

At the recent MIPIM conference in Cannes, ROSHN presented its expansive urban development projects, aligning with the Kingdom's Vision 2030 objectives. The company highlighted its commitment to sustainable, integrated communities designed to enhance the quality of life and support economic diversification. ROSHN's participation underscored its role in attracting international investment and fostering global partnerships.

Simultaneously, ROSHN entered into a three-year partnership with the World Economic Forum as an Associate Center Partner. This collaboration aims to drive progress in smart, sustainable living and allows ROSHN to engage with global stakeholders on urban development best practices. Through this alliance, ROSHN seeks to contribute to global discussions on urban transformation and sustainability.

Domestically, ROSHN has been active in promoting innovation and sustainability. The company hosted the region's largest proptech hackathon, offering SAR 1.5 million in prizes to encourage technological advancements in real estate. Additionally, ROSHN launched the ROSHN Green Initiative Center, a facility dedicated to cultivating greenery and promoting sustainable practices within its communities.

Despite these advancements, ROSHN faces internal challenges. David Grover, the company's former CEO, has filed a \$120 million lawsuit alleging wrongful dismissal. Grover claims his termination was linked to a conflict of interest involving the rental of his French properties to company employees, a matter he asserts was disclosed and approved internally. He suspects his removal was intended to prevent large bonus payouts tied to performance milestones.

The lawsuit, pending before Saudi Arabia's supreme labour court, has experienced multiple delays, raising concerns about legal transparency and labour protections in the Kingdom. This dispute casts a shadow over Saudi Arabia's efforts to attract and retain international expertise for its ambitious projects under Vision 2030.

ROSHN's leadership structure has also seen changes, with Khalid Johar serving as acting CEO since Grover's departure. The company has not provided updates on the appointment of a permanent CEO, leading to speculation about its management stability.