Saudi Arabia’s Housing Minister Strengthens Partnership with China in Construction and Real Estate Development
In a strategic move to enhance collaboration between Saudi Arabia and China in the construction and real estate sector, Housing Minister Majed Al-Hogail recently returned from a trip to Beijing. According to the Saudi Press Agency, Al-Hogail met with Chinese officials to solidify the partnership between the two nations.
During his visit, Al-Hogail held meetings with China’s Minister of Housing and Urban-Rural Development Ni Hong and Fang Qiuchen, the president of the China International Contractors Association. The discussions centered around joint housing policies, city planning, sustainable urban development, and investments in construction technology.
One of the key objectives of Al-Hogail’s trip was to attract Chinese companies specializing in building, construction, maintenance, and cleaning services to the Saudi Arabian market. This move is expected to bring in expertise and resources to support the Kingdom’s housing sector.
As a result of the visit, Al-Hogail signed agreements and memoranda of understanding with major Chinese construction companies. These partnerships are crucial in achieving Saudi Vision 2030’s goal of increasing home ownership to 70 percent by improving housing affordability in the country.