His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, today sponsored the signing of the Ministry of Municipalities and Housing, a joint memorandum of understanding with the General Authority for Endowments, within the activities of Cityscape Global 2025, hosted in Riyadh from November 17 to 20, with wide local and international participation in the real estate and housing development sector.
The memorandum aims to raise the level of coordination and cooperation between the two sides in developing the endowment sector and developing its urban and housing investments, by exchanging experiences and building joint databases that contribute to achieving the objectives of the Kingdom's Vision 2030 and promoting sustainable development in cities.
The memorandum includes cooperation in a number of areas, including developing housing-related endowment projects and opportunities, studying the establishment of housing endowment funds, enhancing the use of endowment banks to support the neediest beneficiaries, as well as working to enable non-profit organizations to contribute to the development of social and housing endowments.
The memorandum includes cooperation in the use of endowment lands to hold partnerships with real estate developers to build endowment housing projects, in addition to exchanging experiences in modern construction techniques, issuing licenses for endowment entities in accordance with the approved regulations and instructions, and activating the Ministry's digital services such as "Baladi" platform to serve endowment entities and enhance their operational efficiency.
The signing of the memorandum comes within the framework of the Ministry of Municipalities and Housing's keenness to activate strategic partnerships with government agencies and the non-profit sector to support urban and endowment development and achieve integration between sectors in order to enhance the quality of life and sustain development in various regions of the Kingdom. <His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, today sponsored the signing of an agreement to purchase two real estate financing portfolios between the Saudi Real Estate Refinance Company (SRRC), a Public Investment Fund company, and Al Rajhi Bank, with a total value of SAR 10 billion, in a move aimed at supporting the stability of the real estate financing market and enhancing the liquidity of financing entities in order to contribute to raising the ownership rate of Saudi families of their homes.
This is part of Cityscape Global 2025, which is hosted in Riyadh from 17 to 20 November with wide local and international participation in the real estate and housing development sector. The agreement includes Al Rajhi Bank creating real estate finance portfolios and refinancing them by the company according to the “Originate to Distribute - OTD” model, which enables banks and finance companies to recycle liquidity and expand the scope of real estate financing; this model aims to provide continuous liquidity in the market and support securitization activities; thus promoting the development of the secondary real estate finance market in the Kingdom.

This initiative seeks to consolidate the stability and sustainability of the residential real estate finance system by supporting lenders with effective liquidity and capital management solutions, enabling banks to continue to expand mortgage lending, and enhancing homeownership opportunities for citizens.

Majeed Fahad Al Abduljabbar, CEO of Saudi Real Estate Refinance Company, said: “The completion of the refinancing agreement with Al Rajhi Bank reflects our role in enhancing the liquidity and stability of the real estate finance market with the largest real estate financier in the Kingdom,” he said, adding that the implementation of the build-to-sell model represents a practical step to develop the secondary market and enable financing entities to expand the granting of housing finance, stressing that we will continue to work with partners to support the increase in home ownership in line with the objectives of the housing program and the Kingdom's Vision 2030.“

For his part, Majid Al Rajhi, General Manager of the Retail Banking Group at Al Rajhi Bank, said: ”We are pleased to cooperate with the Saudi Real Estate Refinance Company in completing these transactions and launching the build-to-sell model, which represents a qualitative leap in real estate financing mechanisms,“ he said, adding that this model enables the bank to meet the growing demand for real estate financing and facilitate the journey of home ownership for a larger segment of citizens, thus enhancing our role in supporting social and economic development in the Kingdom.

It is noteworthy that the Saudi Real Estate Refinance Company was established by the Public Investment Fund in 2017 to develop the real estate finance market in the Kingdom, after obtaining a license from the Saudi Central Bank to operate in the field of real estate refinancing, and the company plays a pivotal role in supporting the objectives of the housing program within the Kingdom's Vision 2030, and promoting the stability and sustainability of the housing finance system in cooperation with its partners in the sector.

His Excellency met with His Excellency the Minister of Public Investment in Saudi Arabia. <His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, met today with the British Ambassador to the Kingdom, Stefan Hitchen, as part of the activities of Cityscape Global 2025 in Riyadh.
The meeting discussed the paths of cooperation between the Kingdom of Saudi Arabia and the United Kingdom in the fields of urban development and smart cities.
The two sides discussed opportunities to support cooperation in the field of sustainable housing and urban intelligence by exchanging advanced expertise, exploring technical partnerships with leading British companies, exploring ways to enhance joint investments in housing and infrastructure projects, as well as the possibility of cooperation in financing green real estate development through British financial institutions.
The meeting discussed the importance of vocational training and technical exchange programs between the two countries, strengthening the partnership with British universities and research centers to develop smart city technologies and urban innovation, and discussing the establishment of a joint working group aimed at identifying and developing future opportunities and facilitating permanent communication between the competent authorities and developers in the two countries.
The meeting is part of the Ministry's efforts to strengthen international partnerships that support the urban transformation process, enable the exchange of global expertise, and support innovation and investment.
The British Ambassador expressed his appreciation for the great urban transformation witnessed by the Kingdom within Vision 2030, stressing that the Saudi experience has become a global model in harmonizing between rapid development and sustainability.

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Mr. <His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al Haqeel, also received today the Founder and Chairman of NAVER Korea, Hye Jin Lee, within the activities of Cityscape Global 2025 in Riyadh, to strengthen the existing partnership between the Ministry and NAVER in the fields of innovation and digital transformation.
During the reception, they discussed the possibilities of expanding cooperation in the field of stable digital currencies linked to real estate investment and other economic sectors, in addition to discussing the advancement of joint work in the project to develop a data center in cooperation with the National Innovation Company to contribute to supporting the structure of the digital economy in the Kingdom.
The two sides reviewed prospects for enhancing research and development cooperation in emerging technologies, and supporting exchange and cooperation programs between the Kingdom and Korea in the scientific and technical fields. This meeting comes as an extension of the international partnerships that the Ministry is working to develop, and believes in the importance of attracting advanced technologies and innovative digital solutions to contribute to the development of the municipal and real estate sectors and achieve the objectives of the Kingdom's Vision 2030.

The two sides reviewed the prospects of enhancing research and development cooperation in emerging technologies, and supporting exchange and cooperation programs in the scientific and technical fields. <NHC signed a strategic agreement with HUMAIN to cooperate in the development of digital content, innovation, interactive media and creative solutions based on artificial intelligence to enhance the experience of residents within its projects and raise the quality of services provided in its destinations.
The agreement was signed as part of NHC's participation in Cityscape Global 2025, with the aim of exploring opportunities to develop a specialized Create State model based on NHC data, research and innovation in media technologies and urban storytelling, and explore opportunities to collaborate on joint initiatives and campaigns, to improve the residents” experience through modern tools that are more interactive and human-centric.
This new strategic move with Humane comes to collaborate in adopting future technologies and building an integrated digital ecosystem that supports the development of urban destinations, improves the experience of residents and opens new horizons for innovation in content and urban interaction.
NHC's participation in Cityscape Global 2025 reflects its pioneering role in developing integrated urban destinations within the objectives of the Housing Program, one of the programs of the Saudi Vision 2030, by raising the quality of life and enabling its customers to own property in integrated urban environments built with international standards, and establishing its leading position through vibrant and future-ready communities.

NHC has signed an agreement with the Municipality of Dubai to cooperate in adopting future technologies and building an integrated digital ecosystem that supports the development of urban destinations and enhances the experience of residents and opens up new horizons for innovation in content and urban interaction. <Qassim Municipality signed a contract for the privatization of the excavation control and construction violations project at the Municipality of the region, worth more than forty-one million riyals, as part of its participation in the “Cityscape Global 2025” exhibition held in Malham, north of Riyadh.
The contract signed by the Secretary of Qassim, Engineer Mohammed bin Mubarak Al-Majali, with TUV Rheinland Arabia Limited, includes the implementation of control work according to mechanisms and standards that ensure the development of field performance and improve the quality of municipal services, supporting the directions of the Municipality towards enhancing the efficiency of work and improving the services provided to beneficiaries.

Through these partnerships, Qassim Municipality works to support the urban development targets and apply best practices in the technical follow-up of projects, which contributes to improving the field work environment and achieving quality of life in the cities of the region. <The Saudi Commission for Accredited Valuers (Taqeem) and NHC signed a memorandum of understanding to discuss cooperation in areas related to real estate valuation and enhance cooperation between the two entities to develop the real estate valuation sector and raise the quality of its practices in the Kingdom, at the Cityscape Global exhibition in Riyadh.
Faisal Al Mandeel, CEO of CRA, and Mohammed Al Batti, CEO of NHC, represented the two sides in the signing. The memorandum includes exchanging experiences and knowledge that enhance the cooperative relationship, raising the level of awareness and knowledge in common fields, benefiting from the programs offered through Taqeem Academy, building and developing human cadres in the fields of evaluation to enhance and support the quality of national competencies, in addition to enabling the company to benefit from the technical services of the electronic platform “Taqeem”.

The two sides signed a memorandum of understanding. <The Ministry of Municipalities and Housing also signed a joint memorandum of understanding with Panda Retail, within the activities of Cityscape Global 2025, in the presence of His Excellency the Deputy Minister of Municipalities and Housing, Mr. Ihab bin Ghazi Al Hashani.
Municipalities and Housing was represented by the Undersecretary of the Ministry for Privatization and Financial Sustainability, Engineer Abdulmajeed bin Abdulrahman Al Askar, while the company was represented by CEO Dr. Bandar Talaat Hamwa.
The MoU aims to strengthen the partnership between the Ministry of Municipalities and Housing and Panda Retail in the development, management and operation of public parks and municipal squares, which contributes to improving the urban landscape, increasing green spaces in the Kingdom's cities, and raising the quality of life within the objectives of Vision 2030. The memorandum includes cooperation in studying areas of investment in public parks, whether existing or non-existing, and developing appropriate investment models for their operation, maintenance and management in accordance with regulations and instructions, in addition to evaluating sports, recreational, cultural and social events that can be held within municipal parks and squares to enhance their economic and social impact.

The memorandum includes studying investment opportunities for at least 30 public parks during the term of the agreement, preparing preliminary designs for them, identifying the challenges facing the private sector in the areas of operation, financing and organization, and working to provide solutions that contribute to raising the efficiency and sustainability of municipal investments.
The signing of this memorandum comes within the framework of the Ministry of Municipalities and Housing's efforts to activate partnerships with the private sector, support financial sustainability and privatization programs, and promote urban development through quality investments that contribute to building more vibrant and attractive cities and achieve the aspirations of the community towards a sustainable urban environment and a better quality of life in various regions of the Kingdom. <Under the patronage of His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al Haqeel, Jazan Municipality signed an investment contract with Al Awali Real Estate Company, on the sidelines of Cityscape Global 2025 in Riyadh.
The contract includes the establishment of “Jazan Water City” on an area of 113 thousand square meters, with an investment value of up to 200 million riyals, in a move aimed at enhancing the tourism and investment sector in the region, in line with the Kingdom's Vision 2030, which seeks to develop infrastructure and increase investment opportunities in various fields.
The project, located on Jazan's waterfront, is one of the largest entertainment projects in the Kingdom, as it includes a marine entertainment destination that includes water games, a marine museum, and a system of supporting services that elevate the entertainment experience and give visitors qualitative options to form a unique tourism experience that reflects the spirit of innovation and attention to quality of life, providing a high-level water entertainment experience.

The Secretary of Jazan, Eng. Yahya Al-Ghazouni, emphasized that the Secretariat continues to strengthen its partnership with the private sector, support tourism investment, and invest in the region's distinctive natural and geographical assets, in order to enhance Jazan's position as a promising tourist destination and contribute to achieving the objectives of sustainable development and pushing the wheel of recreation and tourism towards new horizons.

The Jazan Development Fund signed an agreement with the Jazan Tourism Development Fund. <The Real Estate Development Fund (REDF) and wasl ICT signed a Memorandum of Understanding (MoU) at the Cityscape Global 2025 exhibition held at the Riyadh Exhibition and Convention Center in Malham to discuss opportunities for cooperation and enhance areas of joint work in the digital brokerage sector.
The memorandum aims to organize the relationship between the two sides and establish a framework of understanding to study ways to establish a future partnership that contributes to the development of innovative digital solutions that support the real estate finance system in the Kingdom.
This step comes within the framework of the Real Estate Fund's orientation towards enhancing digital transformation and expanding the scope of its services through quality partnerships with technical entities, in order to enhance the quality of services provided to beneficiaries and support the objectives of the housing program and the Kingdom's Vision 2030.
The Real Estate Development Fund, in cooperation with its partners in the housing system, is working to raise the percentage of residential ownership to (70%) by 2030, in order to achieve the objectives of the Housing Program, one of the programs of the Kingdom's Vision 2030 through advanced digital programs and effective partnerships with financing entities and real estate developers, which contributes to the development of an integrated and sustainable housing sector that enhances the quality of life of citizens.