Construction & Real Estate

Saudi Arabia seeks stronger construction, housing tieups at Chinese event

RIYADH
Saudi Arabia seeks stronger construction, housing tieups at Chinese event

Saudi Arabia's Minister of Municipalities and Housing, Majed Al Hogail, inaugurated the Saudi-Chinese Contractors Forum in Shenzhen on Sunday as part of an official visit to China aimed at strengthening cooperation in housing, construction, infrastructure and smart technologies.

The June 13-16 visit includes meetings with Chinese government entities and companies involved in urban development, housing, smart city technologies and digital transformation, according to the ministry.

During the forum, Saudi and Chinese entities signed six MoUs covering investment cooperation, construction technology, knowledge transfer, workforce development and public-private partnerships.

The agreements also include initiatives related to sustainable construction, supply chain development and joint investment opportunities, stated the ministry.

This comes at a time when Saudi Arabia is planning to develop more than 100,000 housing units in partnership with Chinese companies by 2030 as part of efforts to increase housing supply and support the objectives of Vision 2030, the ministry said.

Speaking at the event, Al Hogail said the forum reflected the growing strategic relationship between Saudi Arabia and China and efforts to deepen cooperation across a range of sectors.

Saudi Arabia is seeking to develop its construction and housing sectors by attracting international expertise, adopting new technologies and increasing local content, he said.

The Forum brought together government officials and companies from both countries to discuss investment opportunities in the construction sector, sustainable urban development, modern building techniques and advanced technologies.

Discussions were focused on expanding cooperation in technology transfer, localising construction-related industries and advancing joint initiatives aligned with Saudi Arabia's Vision 2030 economic diversification programme.

The forum comes amid expanding economic ties between Saudi Arabia and China, which have increased cooperation in infrastructure, technology, industry and urban development in recent years.