<The Ministry of Housing signed a memorandum of understanding with the government of Ningxia Province in the People's Republic of China to develop the Al-Asfar suburb in Al-Ahsa Governorate and build 100,000 housing units with various options with the integration of the necessary service facilities. The agreement includes bringing international construction contractors with local companies that have extensive experience in developing new cities to establish a joint business company established in the Kingdom according to its regulations and implement this project through this joint company, while this is the second memorandum concluded by the Ministry of Housing with Asian countries during this year.

On this occasion, Housing Minister Majid bin Abdullah Al-Hogail, who signed the memorandum in Beijing while accompanying HRH Prince Mohammed bin Salman, Deputy Crown Prince, Second Deputy Prime Minister, Minister of Defense and Chairman of the Council of Economic Affairs and Development, explained that the memorandum with Chinese companies comes as an extension of previous agreements with local and international real estate development companies with competence in this sector, in order to achieve the ministry's strategic goal of stimulating the real estate supply and raising productivity to provide housing products at the right price and quality.

The Minister stressed that this step comes in line with the Saudi Vision 2030 as well as the keenness of the Kingdom of Saudi Arabia and the Government of China to enhance cooperation between the two countries in all fields, including the field of housing, expand investments between the two sides, and activate economic and trade facilities to achieve mutual economic development, build effective interaction, mutual benefit and cooperation, and achieve common development and prosperity".

He stressed that this step comes in line with the Saudi Vision 2030.

Asfar suburb is one of the Ministry's largest housing projects, with an area of about 54 million square meters and capacity to build 100 thousand housing units, including villas and apartments with various options and high quality, located in a privileged location on the eastern ring of Al-Ahsa in the Eastern Province.

Asfar suburb is one of the Ministry's largest housing projects.