His Excellency Majid bin Abdullah, Minister of Municipal, Rural Affairs, and Housing and Chairman of the Housing Program Committee Al-Hogail in Beijing yesterday with the President of the China International Contractors Association, Fang Qiuqin, and a number of the association’s members to discuss opportunities to attract a group of Chinese companies in the contracting, construction, and maintenance sectors, with the aim of benefiting from innovative practices in the contracting sector, in the presence of His Excellency the Ambassador of the Custodian of the Two Holy Mosques to the People’s Republic of China, Mr. Abdulrahman bin Ahmed Al-Harbi, and the Chairman of the Board of Directors of the Saudi Contractors Authority, Engineer Zakaria bin Abdulrahman Al-Abdulqader.
Cooperation between Saudi and Chinese Construction Companies
During the meeting, opportunities for cooperation between Saudi and Chinese construction companies were discussed to benefit from the latter’s unique experience in the construction sector, in light of the Kingdom’s current momentum and rapid progress in this field, as well as opportunities to develop Saudi human capital through specialized training programs for the workforce in the Kingdom’s construction and building sectors.
The Minister of Municipal, Rural Affairs, and Housing emphasized that the China International Contractors Association serves as a model in the field of organization the construction sector and promoting the use of innovative methods within it, as it focuses on ensuring project quality and developing standards and guidelines governing Chinese contractors abroad, which underscores their commitment to quality and ensuring sustainability.
He said: “Our partnership with Chinese companies, particularly in the construction sector, reflects the Kingdom’s keenness to open new horizons for cooperation with our brothers in China; especially since Chinese companies have achieved impressive success stories in the Kingdom over the past years,” noting that housing and municipal projects across various vital sectors represent promising investment opportunities for Chinese companies to enter the Saudi market.
For his part, the president of the China International Contractors Association emphasized that Chinese construction companies are eager to benefit from and participate in the implementation of the mega-projects currently underway in the Kingdom by leveraging the technologies available within those companies.
The Appeal of the Saudi Housing Sector
He noted that they currently have numerous projects underway in the Saudi construction market, which indicates that Chinese companies view the Saudi housing sector as a suitable and attractive investment opportunity. He highlighted the progress in legislation and regulations that have facilitated the entry of foreign companies into the Kingdom for the purpose of investment, exchange of expertise, and mutual benefit.
For his part, the Chairman of the Board of Directors of the Saudi Contractors Authority emphasized the importance of attracting Chinese companies to the Saudi construction market and benefiting from China’s experience in localizing the construction industry and adopting modern construction methods, "We will work to facilitate the operations of Chinese companies," he said, inviting members of the China International Contractors Association to attend the Future Projects Forum next month to learn about the most prominent projects to be implemented in the coming years.
The meeting included the signing of a memorandum of understanding between the Saudi Contractors Authority and the China International Contractors Association, aimed at exploring avenues of cooperation between the two countries in the construction sector and enhancing the participation of Chinese construction companies in the Saudi market, in the presence of the Minister of Municipal, Rural Affairs, and Housing and the Ambassador of the Custodian of the Two Holy Mosques to the People’s Republic of China.
It is worth noting that the Minister of Municipal, Rural, and Housing Affairs began an official visit to the Chinese capital, Beijing, during which he met with the Chinese Minister of Housing and Urban-Rural Development, as well as a number of officials and heads of Chinese construction companies and banks, with the aim of strengthening the partnership between the Kingdom and China in the construction and building sectors and attracting the world’s leading companies in real estate development and various financing solutions.
