Saudi Arabia still relies on China to build houses: Saudi Housing Minister visits China to deepen cooperation with Chinese enterprises in the construction industry

The cooperation between Saudi Arabia and China is one of the important links in achieving the "2030 Vision", which aims to increase housing affordability and achieve a 70% home ownership rate in Saudi Arabia by the end of this century

Recently, Saudi Minister of Housing and Urban Rural Development Majid Al Khohler visited China and had in-depth meetings with Chinese officials, aiming to further strengthen cooperation between the two countries in the fields of construction and real estate development. It is reported that Saudi Arabia is actively promoting its "Vision 2030" and plans to increase the homeownership rate to 70% within the next decade.

Huohele met with Ni Hong, Minister of Housing and Urban Rural Development of China, Fang Qiuchen, and others from the China International Contractors Association in Beijing to discuss housing policies, urban planning, and sustainable urban development. Both sides also had in-depth exchanges on how to formulate joint housing policies and plans, as well as how to share professional knowledge in urban planning and sustainable urban development.

Hoehler stated that cooperation between Saudi Arabia and China is an important part of achieving the "2030 Vision", which aims to increase housing affordability and achieve a 70% home ownership rate in Saudi Arabia by the end of this century. To this end, Saudi Arabia is working closely with large Chinese construction companies to build various residential units to the highest standards and integrate various facilities to meet the growing demand for housing.

Hoehler emphasized that the cooperation agreement with CITIC Construction Group is of great significance and will help Saudi Arabia establish comprehensive industrial zones in building materials production, processing, warehousing, and logistics. The industrial city planned to be jointly built by both parties will include 12 building materials factories with specialized technical expertise. These factories will introduce China's advanced technology and rich experience in the field of building materials, and combine Saudi Arabia's local resources and manpower advantages to jointly enhance business level and promote technological innovation.