Saudi Arabia Boosts Building Materials Supply with Chinese Construction Firm Deal
Saudi Arabia is set to enhance its building materials supply through a groundbreaking deal between the National Housing Co. and a prominent Chinese construction firm.
Industrial City and Logistic Zones for Building Materials
The agreement with China’s CITIC Construction Group aims to establish an industrial city and logistic zones for building materials, consisting of 12 factories. The primary objective is to secure supply chains for the NHC’s housing projects.
Deal Finalized During Minister’s Official Visit to China
NHC CEO Mohammad Albuty sealed the deal during the official visit of Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail to China.
Efforts to Ensure Timely Completion and High Quality
The NHC emphasized that the partnership with the Chinese construction group is part of its commitment to ensure timely completion and high quality of its housing projects by securing supply chains.
Promoting Local Business Standards
The deal involves the construction of 12 factories specializing in building materials, leveraging Chinese expertise and collaborating with local factories to elevate business standards.
Maximizing Economic and Developmental Impact
The collaboration aims to maximize the economic and developmental impact of the real estate sector in Saudi Arabia by developing housing projects, improving their quality, and driving national transformation in the construction sector through industrial cities and logistic zones.
Creating Job Opportunities and Strengthening Partnership
The agreement is expected to expand small and medium factories in the Kingdom, establish direct production lines for the company’s projects, and generate job opportunities in the sector. It also reinforces the comprehensive strategic partnership between Saudi Arabia and China, established during the Chinese president’s visit to the Kingdom in December 2022.