Saudi-Turkish Business Forum: Strengthening Cooperation in Real Estate and Construction Sectors
16 Cooperation Agreements Signed between Saudi and Turkish Companies
At the Saudi-Turkish business forum in Istanbul, in the presence of the Minister of Municipal, Rural Affairs and Housing of Saudi Arabia Majid bin Abdullah Al Hogeil and the Minister of Commerce of Turkey Omar Polat, 16 cooperation agreements between the Saudi side were signed and Turkish companies in real estate development, construction, engineering consulting and a number of other investment sectors worth more than 2.3 billion rials.
The Saudi-Turkish Business Forum reviewed Saudi-Turkish investment opportunities and enhanced communication with Turkish investors and companies in urban development, construction, real estate development, contracting, smart cities and urban development with the participation of businessmen, investors and companies specializing in in this domain.
For his part, Saudi Minister of Housing Majid Al-Khogail said that the forum is an opportunity to increase cooperation and work together and share successful experiences in the municipal and housing sectors, according to the Saudi Press Agency SPA.
Saudi Vision 2030: Achieving Growth in the Municipal and Housing Sectors
Al Hoghail explained that the Kingdom of Saudi Arabia is witnessing qualitative progress in various sectors of the economy and development, including the municipal and housing sectors, which has been achieved through effective strategic planning to achieve the goals of the Saudi Vision 2030, expressing its desire through the Forum to expand cooperation between the two parties in real estate development, automation and infrastructure projects.
He emphasized that the Kingdom provides many promising and diversified investment opportunities with a quality environment that attracts investment, pointing to the start of construction by the Kingdom of more than 300,000 housing units in areas exceeding 150 million square meters, with an investment value of more than 100 billion rials, calling on all Turkish companies to invest in real estate development in the Kingdom.
