Saudi Minister Explores Real Estate and Infrastructure Cooperation in Turkey
RIYADH: Saudi Arabia’s Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail wrapped up a productive visit to Turkiye aimed at boosting collaboration in real estate development, road infrastructure, waste management, and recycling. According to the state news agency SPA, the minister sought to forge new partnerships between Saudi and Turkish contractors during his official trip.
Building Bridges
During his time in Turkiye, Al-Hogail held discussions with Burak Daglıoglu, the head of Turkiye’s Investment Office, to explore potential cooperation opportunities. They exchanged insights on strategies for enhancing the real estate investment environment, developing economic zones, fostering public-private partnerships, connecting Saudi and Turkish companies in real estate development, and identifying current and future investment prospects.
Saudi Arabia’s Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail and his delegation participated in a meeting with representatives from the Saudi Contractors Authority and the Turkish Contractors Association Erdal Eren, along with delegates from Saudi and Turkish companies. (SPA)
Strengthening Ties
In Istanbul, Al-Hogail witnessed the launch of the Saudi-Turkish Construction Forum and an accompanying workshop organized by the Saudi Contractor Authority. The event aimed to foster alliances between contracting companies from both countries for major development projects. Turkish Deputy Minister of Trade Mustafa Tuzcu, Saudi Contractors Authority Chairman Zakria Al-Abdulqadir, Turkish Contractors Association President Erdal Eren, and representatives from Saudi and Turkish firms participated in the forum.
During the discussions, Al-Hogail emphasized the importance of collaboration and joint efforts in areas such as environment, roads, cleanliness, waste management, and recycling to enhance city services for residents. He expressed optimism about the workshop’s potential to boost joint development work and increase trade between Saudi Arabia and Turkiye, with a focus on advancing city infrastructure and prosperity.
Fostering Partnerships
Al-Hogail engaged in round table meetings with Saudi and Turkish counterparts to explore key investment opportunities in real estate and showcase Saudi Arabia’s advancements in building technologies, construction development, infrastructure projects, and waste management. He expressed a desire to deepen partnerships with Turkish contractors, developers, and investors to contribute to suburban and residential project development in the Kingdom.
The minister highlighted the ministry’s efforts through its housing program to collaborate with around 200 private sector real estate developers and prepare them for residential projects in Saudi Arabia. Notably, Al-Hogail’s previous visit to Turkiye in July last year saw the signing of cooperation agreements in real estate development, construction, engineering consulting, and other investment sectors between Saudi and Turkish companies.