China-Saudi Cooperation Grows as Kingdom Awards $506 Million in Housing Contracts
RIYADH — Saudi Arabia has signed six agreements and memorandums of understanding with Chinese entities and awarded housing projects worth more than SR1.9 billion ($506 million) in Riyadh and Dammam, the Saudi Press Agency reported.
The deals, announced during an official Saudi visit to China running from June 13 to 16, cover investment in construction, adoption of modern building technologies, knowledge transfer, human capital development, and support for public‑private partnerships. The agreements also include engineering design, financing solutions, and project studies aimed at improving efficiency and accelerating project delivery.
In a post on X, Minister of Municipalities and Housing Majed Al‑Hogail said: “Our partnerships with Chinese companies continue to affirm, day by day, their ability to transform ambitions into tangible achievements.”
The latest agreements build on Saudi Arabia’s partnership with Chinese firms to deliver 100,000 housing units by 2030. Contracts covering 18,000 homes have already been signed for the 2025 target, while agreements for more than 19,000 additional units have been concluded for 2026, bringing the total to more than 37,000.
The visit also saw the launch of the Saudi‑Chinese Contractors Forum, organized by the Saudi Contractors Authority to strengthen cooperation and explore partnership opportunities in housing, infrastructure, and urban development. Al‑Hogail said international partnerships help strengthen supply chains, develop national capabilities, and improve project quality, supporting the Kingdom’s ambition to position itself as a leading destination for real estate investment.
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