Saudi Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail discussed with top executives of Chinese CITIC Group and CITIC Construction, cooperation opportunities in the field of green and sustainable housing technology.
Al-Hogail is currently on an official visit to Beijing to discuss exchange of expertise with Chinese institutions and companies and participate in the Saudi-Chinese Forum.
The event aims at attracting top Chinese companies to invest in Saudi Arabia while consolidating the two countries’ partnerships.
The forum will review the investment opportunities and advantages the Kingdom offers in infrastructure and housing. It will be attended by Saudi officials and investors, along with representatives of Chinese companies.
During his meetings on Monday, the Saudi minister discussed opportunities for cooperation in the field of green and sustainable housing technology, praising the efforts of CITIC in introducing and integrating advanced technologies to promote the construction sector in the Kingdom.
The meeting, which was attended by Saudi Arabia’s ambassador to Beijing, Abdul Rahman Al-Harbi, touched on the progress in the implementation of a project comprising 20,000 housing units, where CITIC is coordinating between the National Housing Company and the Saudi Real Estate Refinance Company on the one hand, and Chinese banks on the other.
Also on Monday, Al-Hogail met with representatives of the Asia Infrastructure Investment Bank (AIIB) to discuss cooperation opportunities and the proposed structure for financing housing projects.
The Saudi minister visited the “Beijing Stages of Development Exhibition” on Sunday, to learn about China’s experience and explore modern best practices in the development and improvement of cities.
During his meeting with a number of executives specialized in housing and real estate, the minister discussed means of cooperation, exchange of experiences, as well as the investment opportunities offered by the Kingdom in the municipal and housing sectors.
