The Ministry of Municipalities and Housing and the Ministry of Investment sign a memorandum of understanding with the Spanish company Orbas.

Monday 08 June 2026
"البلدية والإسكان" و"الاستثمار" توقعان مذكرة تفاهم مع شركة أورباس الاسبانية

It aims to support, promote and implement investments in the Kingdom

The Ministry of Municipality and Housing and the Ministry of Investment sign a memorandum of understanding with the Spanish company Orbas.

The Ministry of Municipal and Rural Affairs and Housing, represented by the Housing Supply Stimulation and Real Estate Development Agency, and the Ministry of Investment signed a memorandum of understanding with the Spanish company Orbas, with the aim of supporting and developing investment in the Kingdom of Saudi Arabia.

The memorandum of understanding was signed by the Undersecretary for Housing Supply Stimulation and Real Estate Development, Abdul Rahman bin Abdullah Al-Tawil, representing the Ministry of Municipal and Rural Affairs and Housing, while it was signed on behalf of the Saudi Ministry of Investment by the Undersecretary for Investment Development, Fahd bin Jamal Al-Naim, and on behalf of the Spanish company Orbas by the company’s CEO, Adolfo Gourireau.

The memorandum aims to enhance mutual cooperation between the parties to support and develop investment in the Kingdom of Saudi Arabia in accordance with the national investment strategy, and to unify efforts with the relevant authorities of each party, in order to raise the level of coordination and effective joint work in everything that supports and promotes the development, marketing and implementation of investments.

For his part, the Undersecretary of the Ministry of Municipal and Rural Affairs and Housing for the Housing Supply Stimulation Agency for Development and Real Estate said that the signing of the memorandum of understanding comes within the framework of the joint efforts made by the Ministry in cooperation with the Ministry of Investment to attract and encourage foreign investments in the housing sector in the Kingdom, adding that the Spanish company Orbas is one of the global companies active in the fields of real estate, infrastructure and renewable energy.

Al-Taweel explained that the Ministries of Municipal and Rural Affairs, Housing and Investment will work to support the investing company in terms of exploring opportunities and taking advantage of available incentives through initiatives provided by the authorities according to their specialization, such as the National Incentives Committee, noting that the investor will also receive support from the competent authorities regarding the work plan and feasibility by providing available data that serves the success of the investment.

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The Kingdom of Saudi Arabia