Al-Hogail Discusses with Heads of Chinese Banks Investment and Development Opportunities in Municipal and Housing Projects

The Minister of Municipal and Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, convened a meeting today in Beijing, People’s Republic of China, with several heads of Chinese banks. The meeting aimed to discuss potential investment and development opportunities in infrastructure projects within the municipal and housing sectors in Saudi Arabian cities.

During the meeting, Al-Hogail engaged in discussions with the heads of the Export-Import Bank of China (Exim Bank), China Development Bank, and Industrial and Commercial Bank of China Limited. They focused on Saudi Arabia’s housing plans and programs, which entail providing housing schemes and improving the quality of the housing sector. Additionally, they covered vital aspects such as master plans for building technologies and project sustainability. The plans also encompass financing and refinancing programs from banks to facilitate housing development.

Al-Hogail actively explored opportunities for joint cooperation and collaborated on various financing models for infrastructure projects in Saudi Arabia. He expressed his desire to open new horizons and avenues for Saudi-Chinese investment and to strengthen partnerships with Chinese banks and companies that specialize in urban infrastructure development, housing, and financing.

Moreover, Al-Hogail is currently overseeing the sponsorship of the Saudi-Chinese Business Forum. This notable event is set to launch in Beijing on Wednesday and will be attended by officials from the ministry, Saudi investors, Chinese companies, and businessmen. The forum is designed to review investment opportunities and advantages provided by the Kingdom of Saudi Arabia, particularly within the areas of infrastructure and housing. The ultimate goal is to attract the best Chinese companies for investment and foster stronger partnerships between the two nations.