Saudi Housing Minister Concludes Official Visit to Turkey, Boosts Cooperation in Real Estate Sector

Esraa Elsheikh July 7, 2024

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Saudi Housing Minister Concludes Official Visit to Turkey, Boosts Cooperation in Real Estate Sector

Minister of Municipal, Rural Affairs and Housing concluded an official visit to Turkey to strengthen the bilateral cooperation in real estate development, road infrastructure, waste management and recycling, reported the Saudi Press Agency (SPA).

The Minister Majid Al-Hogail embarked on a visit to Turkey in order to boost the cooperative relations by creating new alliances between Saudi and Turkish contractors.

Therefore, Al-Hogail held multiple meetings and showcased various opportunities to sign strategic partnerships.

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Topics of Discussion

Al-Hogail met with the head of Turkiye’s Investment Office, Burak Daglıoglu, and they discussed cooperation opportunities and shared fruitful experiences on the two countries’ strategies for improving the real estate investment environment.

Furthermore, they exchanged visions concerning various topics, as follows:

The development of economic zones
The activation of partnerships between the public and private sectors
The link between Saudi and Turkish companies in the real estate development sector
The exploration of current and future investment opportunities

Saudi-Turkish Construction Forum

Moreover, the visit highlighted the launch of the Saudi-Turkish Construction Forum, organized by the Saudi Contractor Authority to link contracting companies in the two countries by creating alliances in major development projects.

The occasion saw the convergence of Al-Hogail, the Turkish Deputy Minister of Trade Mustafa Tuzcu, the chairman of the board of directors of the Saudi Contractors Authority Zakria Al-Abdulqadir, along with the president of the Turkish Contractors Association Erdal Eren and representatives of numerous Saudi and Turkish companies.

Al-Hogail underscored the significance of bilateral coordination and joint work between both Turkey and Saudi Arabia in the growing sectors, such as environment, waste management, roads and recycling.

Round Table Meetings

The visit also featured multiple round table meetings between the Saudi and Turkish participants to showcase the most promising investment opportunities and projects in the real estate sector.

The meetings highlighted the Kingdom’s efforts in providing cutting-edge technologies in the construction sector, infrastructure projects, waste management and recycling programs.

Partnerships and Opportunities

Al-Hogail expressed the Kingdom’s willingness to deepen the relations with Turkey through signing partnerships with Turkish contractors, developers and investors in the construction sector.

Such partnerships would also contribute to implementing and developing suburbs and major residential projects in the Kingdom.

It is noteworthy that the minister visited Turkey in July last year and sponsored the Saudi-Turkish Business Forum. The event witnessed the signing of successful partnerships between Saudi and Turkish companies in the fields of real estate development, construction, engineering consulting and other investment sectors.