https://arab.news/725pf
- Saudi and Turkish companies in the real estate development sector and exploring current and future investment opportunities
RIYADH: Saudi Arabia’s Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail ended an official visit to Turkiye to enhance cooperation in real estate development, road infrastructure, waste management and recycling, the Saudi Press Agency reported on Saturday.
The visit was also an initiative to create new alliances between Saudi and Turkish contractors, according to the SPA.
During the visit, Al Hogail met with the head of Turkiye’s Investment Office, Burak Daglıoglu, where they discussed cooperation opportunities and exchanged successful experiences on the two countries’ strategies for improving the real estate investment environment, developing economic zones, activating partnerships between the public and private sectors, linking Saudi and Turkish companies in the real estate development sector and exploring current and future investment opportunities.
Saudi Arabia’s Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail and his delegation attend a meeting of representatives of Saudi Contractors Authority and the Turkish Contractors Association Erdal Eren, and representatives of Saudi and Turkish companies participated in the event. (SPA)
In Istanbul, Al-Hogail attended the launch of the Saudi-Turkish Construction Forum and the accompanying workshop, which was organized by the Saudi Contractor Authority to link contracting companies in the two countries by creating alliances in major development projects.
Turkish Deputy Minister of Trade Mustafa Tuzcu, the chairman of the board of directors of the Saudi Contractors Authority Zakria Al-Abdulqadir, the president of the Turkish Contractors Association Erdal Eren, and representatives of Saudi and Turkish companies participated in the event.
During the session, Al-Hogail stressed the importance of coordination and joint work between Saudi and Turkish companies in the fields of environment, roads, cleanliness, waste management and recycling “to develop and improve city services in a way that reflects positively on their residents,” the SPA statement said.
He expressed his optimism about the results and outcomes of the workshop in developing joint development work and increasing the volume of trade between the two countries, “harnessing all capabilities for the renaissance and prosperity of cities,” SPA added.
Al-Hogail also attended round table meetings between the Saudi and Turkish sides to review the most prominent opportunities and pioneer investment projects in the real estate sector, and highlight the Kingdom’s efforts in the fields of building technologies and development in the construction sector, infrastructure projects, waste management and recycling.
During the meetings, he expressed his desire to deepen partnerships with the Turkish side through joint cooperation with contractors, developers and investors in Turkiye’s construction sector, and to contribute to implementing and developing suburbs and major residential projects in the Kingdom.
He said that the ministry was working through the housing program to develop real estate projects in the Kingdom with approximately 200 real estate developers from private sector companies, and qualifying many developers to enter into residential projects.
The minister last visited Turkiye in July last year, where he sponsored the Saudi-Turkish Business Forum, where several cooperation agreements were signed between Saudi and Turkish companies in the fields of real estate development, construction, engineering consulting and other investment sectors.