The Minister of Municipalities and Housing discusses with his Turkish counterpart strengthening the strategic partnership and expanding real estate investment prospects.

Monday 28 September 2026

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His Excellency the Minister of Municipalities and Housing, Mr. Majid bin Abdullah Al-Hogail, met today in his office at the Ministry’s headquarters in Riyadh with His Excellency the Minister of Environment, Urban Development and Climate Change of the Republic of Turkey, Mr. Murat Kurum. During the meeting, they discussed ways to enhance bilateral cooperation and exchange experiences in the housing, real estate development and urban development sectors, in order to support the strategic partnership between the two countries.

The meeting addressed ways to enhance mutual investments, with His Excellency praising the contributions of Turkish contracting companies that implemented 434 projects in the Kingdom with an investment value of $32.5 billion, stressing the importance of developing official investment channels under direct government supervision to protect investors, remove obstacles, and enhance the business environment in both countries.

The two sides also discussed opportunities to build broader cooperation in economic models for the housing and urban development sector, through the exchange of best practices in partnerships with the private sector, real estate financing tools, and the sustainability of financing urban projects, in order to enhance investment efficiency and keep pace with the transformations taking place in the real estate sector in both countries, in addition to exchanging experiences in urban development, housing project management, sustainability, and smart cities.

During the meeting, His Excellency Minister Al-Haqil emphasized the strength of Saudi-Turkish relations, noting that the two countries represent a pivotal economic force within the G20, with the Kingdom's GDP exceeding $1.28 trillion and Turkey's GDP reaching $1.60 trillion for 2025, totaling nearly three trillion dollars combined. This opens up broad prospects for increasing the volume of trade and strengthening investment partnerships in the municipal and real estate sectors.

On the sidelines of the meeting, a memorandum of understanding was signed between the Ministry of Municipalities and Housing in the Kingdom of Saudi Arabia and the Ministry of Environment, Urban Development and Climate Change in the Republic of Turkey, with the aim of strengthening institutional cooperation and exchanging experiences in the fields of housing, real estate development and urban development, supporting investment partnerships and developing joint initiatives that contribute to achieving sustainable urban development in the two countries.

This meeting comes within the framework of the Ministry of Municipalities and Housing’s keenness to strengthen international partnerships, exchange global best practices, and develop institutional cooperation in a way that contributes to achieving the goals of Saudi Vision 2030, improving the quality of life, and supporting sustainable urban development in the Kingdom.

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The Kingdom of Saudi Arabia