He witnessed the signing of five agreements and memorandums of understanding between the housing system and a number of US companies. His Excellency witnessed the signing of five agreements and memorandums of understanding between Housing System and a number of American companies, including two memorandums of understanding between the Saudi Real Estate Refinance Company (SRC) and the American companies “BlackRock” and ”King Street” to develop real estate refinance market programs, expand through local and international capital markets channels, and diversify funding sources through fixed income markets, which contributes to attracting more foreign investments to the Saudi market.
His Excellency also witnessed the signing of five agreements and memorandums of understanding between Saudi Real Estate Refinance Company. His Excellency also witnessed the signing of two partnership agreements between the Saudi Housing Guarantee Company “Damanat” and the companies ”BlackRock” and “Apollo”; with the aim of developing strategies and investment funds for real estate financing in the Kingdom, in addition to expanding the local and international investor base to contribute to the sustainability of real estate market growth.
He also witnessed the signing of another memorandum of understanding between the Saudi Housing Guarantee Company “Damanat” and "Apollo". He attended the signing of another memorandum of understanding between the ministry and K Hovnanian ME, which has contributed to the development of 500,000 housing units in the United States, with the aim of building more integrated residential communities in the Kingdom.
During the visit, the Minister of Municipalities and Housing met with representatives of Parsons Corporation, a company specialized in technical and engineering solutions, to discuss ways of cooperation in enhancing the smooth implementation of projects, providing effective support to contractors, raising the level of safety at work sites, and employing modern technologies to enhance access to services and facilities and link them to residential neighborhoods. He also reviewed with representatives of HDR, a leading company in building a sustainable waste management system, opportunities for cooperation and partnership between the two sides and reviewed the experiences and waste management projects the company has worked on around the world.
His Excellency met with leaders of the American Chamber of Commerce to discuss enhancing cooperation between the Kingdom and the United States in the municipal and housing sectors, building effective partnerships and exchanging experiences between specialized companies, and reviewed with the Saudi American Business Council the latest business developments and available investment opportunities, and cooperation with the Council to support the Ministry's programs and initiatives in the municipal and housing sectors.
He also reviewed with representatives of HDR, a leading company in building a sustainable waste management system, the opportunities for cooperation and partnership between the two sides.
Real estate financing agreements
His Excellency discussed with the leaders of Freddie Mac, which specializes in mortgage refinancing solutions, the most prominent experiences and innovative solutions in the sector and the best ways to transfer knowledge to serve the real estate finance sector in the Kingdom, and met with the leaders of the International Finance Corporation (IFC) to discuss opportunities for cooperation and exchange of expertise and successful experiences in the fields of municipalities, housing and urban development.Minister of Municipalities and Housing inaugurated the Ministry of Housing and Urban Development. The Minister of Municipalities and Housing inaugurated the exhibition of the “Sakani” program at the headquarters of the Saudi Cultural Attaché in Washington to inform Saudi families residing in the United States of America about the housing options and financing solutions provided by the Sakani program in cooperation with its partners from the National Housing Company and the Real Estate Development Fund.
Minister of Municipalities and Housing inaugurated the Sakani program exhibition at the headquarters of the Saudi Cultural Attaché in Washington. He also met a number of male and female students on scholarships to the United States and listened to their views and suggestions related to the housing sector, municipal services and other related topics, where His Excellency answered a number of inquiries about current and future plans, programs and initiatives.
The visit of the Minister of Municipalities and Housing to the United States of America aimed at strengthening bilateral relations, building partnerships, exchanging experiences with friendly countries, and attracting successful international experiences in the fields of housing, real estate development and urban development.
His visit was aimed at strengthening bilateral relations, building partnerships and exchanging experiences with friendly countries.
