Saudi Minister of Municipal and Rural Affairs and Housing to Begin Official Visit to China Next Week

Saudi Minister of Municipal and Rural Affairs and Housing Majid bin Abdullah Al-Hogail will begin an official visit to Beijing next week.

Minister Al-Hogail will meet with officials in Chinese government and chairpersons of Chinese construction and banking companies on ways to enhance the Saudi-Chinese partnership in construction and real-estate sectors.

During the visit, Al-Hogail will also witness the signing of agreements between the National Housing Company and Chinese construction companies to build thousands of housing units and attract major factories to establish an industrial logistics zone for building materials to secure supply chains and create an innovative business model to deal with the needs of various residential projects.

This comes within the framework of continuous efforts to enhance and increase the units in integrated residential communities and suburbs that consider the highest quality standards, and contribute to achieving one of the most important goals of the housing program by raising the percentage of residential ownership to 70% by 2030.

Al-Hogail will also meet with Chinese bank leaders to discuss partnerships and enhance ways of cooperation in financing real-estate and housing projects and infrastructure development.