Saudi Minister of Municipalities and Housing Majed Al-Hogail is in Beijing to deepen Saudi-Chinese partnerships in housing and urban development, aiming to implement 100,000 housing units by 2030.
The two-day official visit will focus on supporting sustainable urban growth, expanding cooperation in infrastructure, and developing smart cities to increase housing supply and achieve real estate balance in the Kingdom, reported the Saudi Press Agency on Friday.
The visit includes bilateral meetings with leaders of major Chinese companies to discuss industrial construction, modern building technologies, and expertise exchange, all geared toward accelerating housing projects and boosting operational efficiency.
Key agenda items include expanding industrial and investment cooperation in supply chains and industrial localization to boost the real estate market's sustainability, create new investment opportunities, and generate jobs in the housing sector.
The visit will feature the signing of several agreements and memoranda between NHC Innovation and ByteDance, as well as with other leading Chinese firms, focusing on real estate development, smart city solutions, and the application of AI in municipal and residential services.
Under the minister's guidance, NHC will also launch the SupplyPro initiative to manage supply chains and hedge against construction material price fluctuations. The initiative aims to protect the private sector and citizens from rising costs while enhancing local content and localizing advanced technologies, aligning with Vision 2030.
This trip extends the strategic partnership that previously saw Saudi-Chinese cooperation contribute to the implementation of over 8,000 housing units and the transfer of advanced construction and logistics technologies.
