“Al-Haqeel concludes Asian tour by strengthening international partnerships in housing and smart cities

The signing of agreements to build more than 24,000 Saudi-Chinese units and memorandums of understanding to promote smart city technologies and infrastructure.
Residential program

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His Excellency the Minister of Municipalities and Housing Mr. Majid bin Abdullah Al-Hogail concluded his Asian tour, which included the People's Republic of China and Korea, and aimed to strengthen international partnerships in the fields of housing, infrastructure and smart cities, within the Ministry's efforts to increase housing supply, achieve real estate balance and attract modern technologies that contribute to improving the quality of life in Saudi cities.

The visit to the People's Republic of China witnessed the National Housing Company (NHC) signing a set of agreements and memorandums of understanding with a number of major Chinese companies to implement 24,000 housing units as part of the 100,000 housing units Saudi-UAE construction plan. The visit to the People's Republic of China saw the National Housing Company (NHC) sign a set of agreements and memorandums of understanding with a number of major Chinese companies to implement more than 24,000 housing units within the plan to implement 100,000 Saudi-Chinese housing units until 2030, supporting the ministry's orientation in diversifying international partnerships and adopting modern construction techniques to increase the efficiency of implementation.

In the Republic of South Korea, he met with the Ministry of Housing and Urban Development. In South Korea, the Minister met with Minister of Land, Infrastructure and Transportation Yoon Duk Kim and Minister of Science, Information Technology and Communications Kyung Hoon Bae to discuss ways to develop housing and infrastructure systems and employ modern technologies in building smart cities. He also met with leaders of the Korean company NAVER to discuss the development of the second phase of the digital twin project “Baladi”, and witnessed the signing of a memorandum of understanding between the National Housing Company and GS E&C to develop a quality residential project within the “Al Fursan” destination east of Riyadh.

He emphasized that the Ministry of Housing and Infrastructure's efforts to diversify international partnerships and adopt modern construction technologies to increase the efficiency of implementation. The Minister stressed that this tour comes within an integrated path to enhance cooperation with international partners in the fields of housing, infrastructure and real estate technologies, which contributes to raising the efficiency of implementation and improving the citizen's experience in his journey towards ownership, in addition to developing partnerships that contribute to achieving real estate balance and sustainability of urban development.

He emphasized that this tour comes within an integrated path to enhance cooperation with international partners in the fields of housing, infrastructure and real estate technologies. The outcomes of the Asian tour represent an important pillar in building smarter and more sustainable Saudi cities by attracting advanced technologies and international models in urban planning and integrated housing, reflecting the Ministry of Municipalities and Housing's commitment to the objectives of Saudi Vision 2030 in developing prosperous cities that enhance the quality of life and contribute to achieving comprehensive and sustainable development in all regions of the Kingdom.

The outcomes of the Asian tour represent an important pillar in building smarter and more sustainable Saudi cities by attracting advanced technologies and international models in urban planning and integrated housing. These qualitative partnerships also contribute to accelerating the pace of development and reducing construction costs, reflecting on price stability and diversity of housing options, enhancing the ease of ownership for citizens through more efficient and quality projects, and supporting the attraction of foreign and local investments to increase supply and competitiveness in the real estate market, bringing closer to achieving the target of raising the percentage of residential ownership to 70% by 2030.

These partnerships also contribute to accelerating the pace of development and reducing construction costs, reflecting the commitment of the Ministry of Municipalities and Housing to the objectives of the Kingdom's Vision 2030.