Riyadh - Minister of Municipal, Rural Affairs and Housing Majid bin Abdullah Al-Hogail concluded his official visit to the Republic of Türkiye, aimed at enhancing cooperation between the two countries in the fields of real estate development, road infrastructure, waste management, recycling, and creating new alliances between Saudi and Turkish contractors in these sectors.
During his visit, the minister met with the Head of the Investment Office of the Turkish Presidency Burak Daglioglu, where they discussed opportunities for cooperation and the exchange of successful experiences regarding both countries' strategies.
This aimed to enhance the real estate investment environment, develop economic zones, activate partnerships between the public and private sectors, as well as foster connections between Saudi and Turkish companies in real estate development and explore current and future investment opportunities.
In Istanbul, Al-Hogail witnessed the launch of the Türkiye-Saudi Arabia Contraction Forum and its accompanying workshop organized by the Saudi Contractors Authority (SCA) to connect contracting companies between the two countries through creating alliances in major development projects.
The session was attended by the Turkish Deputy Minister of Trade Mustafa Tuzcu, SCA Board of Directors Chairman Eng. Zakria Al-Abdulqadir, Turkish Contractors Association President Erdal Eren, and representatives from Saudi and Turkish companies.
Al-Hogail emphasized during the session the importance of coordination and collaboration between Saudi and Turkish companies in environmental, road infrastructure, cleanliness, waste management, and recycling fields to develop and enhance city services, positively impacting their residents.
He also expressed optimism about the workshop's outcomes in advancing joint development efforts and increasing trade exchange between the two countries, harnessing all capabilities for the resurgence and prosperity of cities.
Moreover, Al-Hogail attended the roundtable meetings between the Saudi and Turkish sides aimed at showcasing the prominent opportunities and leading investment projects in the real estate sector. The meetings highlighted the Saudi efforts in construction technology, development in the construction sector, infrastructure projects, and waste management and recycling.
During the meetings, the minister expressed his eagerness to deepen partnerships with the Turkish side through cooperation with contractors, developers, and investors in the Turkish construction sector, and to contribute to the implementation and development of major residential projects and suburbs in Saudi Arabia.
The minister also pointed out that the ministry, through the Housing Program, is developing real estate projects in the Kingdom with approximately 200 private sector real estate developers and is preparing many developers to participate in residential projects.
In July 2023, the minister visited the Republic of Türkiye where he sponsored the Saudi-Turkish Business Forum and witnessed the signing of several cooperation agreements between the Saudi side and Turkish companies in real estate development, construction, engineering consultancy, and various other investment sectors.
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