The Ministry of Municipality and Housing signs a memorandum of understanding agreement with a consortium of Chinese companies in the housing sector.

Monday 08 June 2026
"البلدية والإسكان" توقع اتفاقية مُذكرة تفاهم مع تحالف شركات صينية في مجال الإسكان

It contributes to providing more than 100,000 housing units.

The Ministry of Municipality and Housing signs a memorandum of understanding agreement with a consortium of Chinese companies in the housing sector.

 

The Ministry of Municipal and Rural Affairs and Housing, represented by the Ministry’s Agency for Stimulating Housing Supply and Real Estate Development, and the National Housing Company, signed a memorandum of understanding for cooperation with Metallurgical Corporation of China (MCC) , Sinohydro Corporation Limited & POWERCHINA , and China State Construction Overseas Development Co. Ltd. , on the sidelines of the Saudi-Chinese Summit.

The memorandum of understanding aims to contribute to providing more than 100,000 housing units by creating partnership opportunities with real estate developers and contractors working in the housing sector and establishing factories for modern building technologies, with the total investment value expected to reach more than 10.5 billion riyals.

The memorandum was signed on the Saudi side by the Undersecretary of the Ministry for Stimulating Housing Supply and Real Estate Development, Mr. Abdulrahman Al-Tawil; and the CEO of the National Housing Company, Mr. Mohammed Al-Bati; and on the Chinese side by Mr. Wang Kai, Chairman of China Overseas Contracting Company, Mr. Zhu Jing, Chairman of Sinohydro Corporation Limited, and Mr. Zang Zan, Chairman of Metallurgical Corporation of China Limited.

This agreement comes as an extension of a strategic partnership that the Ministry has established with a number of regional and international entities to exchange experiences and work on implementing joint projects to increase the supply of real estate, develop businesses and improve performance efficiency in order to achieve the target of 70% homeownership for Saudi families in 2030.

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The Kingdom of Saudi Arabia