Al-Hogail discusses with the heads of several Chinese banks the opportunities for investment and development in municipal and housing projects.

Minister of Municipal Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Hogail, met today with several heads of Chinese banks in Beijing, the capital of China, to discuss investment and development opportunities in municipal and housing projects in Saudi cities. This meeting took place during the Minster’s visit to the People's Republic of China, which continues until Wednesday, August 16.

During the meeting, Al-Hogail discussed with the heads of Industrial and Commercial Bank of China (ICBC), China Development Bank (CDB), and Bank of China for Import and Export the Kingdom's plans and programs to provide housing schemes and improve the quality of the sector. This included the main plans for construction technologies and project sustainability, as well as financing and refinancing programs from banks to facilitate housing development.

The discussions focused on exploring joint cooperation opportunities and various financing models for infrastructure projects in the Kingdom. The Minister expressed his aspiration to open new horizons and opportunities for Saudi-Chinese investment and enhance partnerships with Chinese banks and companies specialized in the fields of urban infrastructure development, housing and finance.

Al-Hogail sponsors the Saudi-Chinese Business Forum, which will commence in Beijing tomorrow, Wednesday. The forum will be attended by officials from MOMRAH, Saudi investors, representatives of Chinese companies and businessmen. The Forum aims to showcase investment opportunities and benefits in the areas of infrastructure and housing, with the goal of attracting top Chinese companies to invest in the Kingdom and strengthen partnerships between both sides.

It is worth noting that Minister Al-Hogail conducted a series of visits and bilateral meetings with leaders of Chinese companies specialized in housing infrastructure and finance in the past few days. These discussions aimed to explore opportunities for enhancing cooperation, exchange expertise in the fields of infrastructure, urban development, housing, real estate and finance, and discuss investment opportunities provided by the Kingdom in the municipal and housing sectors.