16/06/2026 03:21 AST
Saudi Arabia has signed six agreements and memorandums of understanding with Chinese entities and awarded housing projects worth more than SR1.9 billion ($506 million) in Riyadh and Dammam.
The deals, announced during an official Saudi visit to China running from June 13 to 16, cover investment in the construction sector, the adoption of modern building technologies, knowledge transfer, human capital development, and support for public-private partnerships, the Saudi Press Agency reported.
The agreements also include engineering design, financing solutions, and project studies and pricing aimed at improving implementation efficiency, accelerating project delivery, and enhancing the quality of housing developments.
The announcements underscore China's growing role in Saudi Arabia's construction and infrastructure sectors, where Chinese firms are increasingly involved in housing, transport and major development projects aligned with the Kingdom's Vision 2030 diversification agenda.
In a post on X, Saudi Minister of Municipalities and Housing Majed Al-Hogail said: "Our partnerships with Chinese companies continue to affirm, day by day, their ability to transform ambitions into tangible achievements."
He added: "The announcement of awarding the Al-Ruba project in Riyadh to CACC, alongside awarding the Al-Rasha Al-Faisaliyah project in Dammam and the handover of the Al-Hawiyah projects in Taif, reflects the ongoing efforts to elevate the housing supply."
The latest agreements build on Saudi Arabia's partnership with Chinese companies to deliver 100,000 housing units by 2030.
Contracts covering 18,000 homes have already been signed to meet the Kingdom's 2025 target, while agreements for more than 19,000 additional units have been concluded for 2026, bringing the total number of contracted homes to more than 37,000.
The first day of the visit also saw the launch of the Saudi-Chinese Contractors Forum, organized by the Saudi Contractors Authority to strengthen cooperation between contractors from both countries and explore partnership opportunities in housing, infrastructure and urban development.
Al-Hogail said the initiatives support efforts to localize advanced construction technologies, increase local content, improve project execution and expand housing supply in line with Vision 2030 goals.
He added that international partnerships help strengthen supply chains, develop national capabilities and improve project quality, while supporting the Kingdom's ambition to position itself as a leading destination for real estate development and housing investment.
The forum reflects expanding economic ties between Saudi Arabia and China, with cooperation growing across infrastructure, technology, industry, supply chains and urban development.
Al-Hogail said the gathering highlighted the deepening partnership between the two countries as Saudi Arabia continues to modernize its construction and housing sectors through international expertise, advanced technologies and greater local content participation.
Arab News
Please wait...
