Riyadh: ROSHN Group, Saudi Arabia’s leading national real estate developer and PIF-owned giga-project, today announced the signature of a Memorandum of Understanding with Tsangs Group Holdings Limited and Hong Kong Ambassadors Club, 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 Head of Strategic and Corporate Affairs at ROSHN Group Yassen Kattan, and Chairman of Tsangs Group, Co-founder and Chairman of Hong Kong Ambassadors Club (“HKAC”) Patrick Tsang.
The GCEO of ROSHN Group, David Grover, said: "Our collaboration with Tsangs Group and Hong Kong Ambassadors Club 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."
“We feel honoured 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 digitisation, creating jobs for Saudi nationals and investment opportunities for Hong Kong 3.0,” commented Chairman of Tsangs Group Patrick Tsang.
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, economic diversification efforts, and reinforcing Saudi Arabia's position as a global technology center.
Tsangs Group is an innovation-focused global family office that operates as a bridge between East and West. The Group is committed to investing in global opportunities that exert a positive influence and drive impactful results in Hong Kong, Asia, and beyond. The HKAC is an organization designed for global investors and professionals with an appetite to deepen ties, build connections, and engage in high-level discussions with Hong Kong's leading figures.
ROSHN's collaboration with Tsangs Group and Hong Kong Ambassadors Club 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 the well-being and economic prosperity within its integrated communities as well as beyond.