Saudi Housing Agreements with China to Boost Real Estate Sector
Beijing, China — Minister of Municipal and Rural Affairs and Housing Majid bin Abdullah Al-Hogail will visit Beijing next week to expand cooperation between Saudi Arabia and China in the construction and housing sectors. The trip includes meetings with senior Chinese officials and the signing of Saudi housing agreements with China.
At the start of the visit, Al-Hogail will meet Chinese Minister of Housing and Urban-Rural Development Ni Hong. The meeting will explore shared opportunities, including strategies for real estate growth, urban planning, and advanced building technologies.
During the visit, Saudi Arabia’s National Housing Company will sign several Saudi housing agreements with China, partnering with major Chinese construction firms. These deals will involve building thousands of new housing units across the Kingdom. In addition, both sides plan to establish a logistics and industrial zone for building materials to support future housing projects and secure supply chains.
This effort directly supports Saudi Arabia’s Housing Program. The goal is to increase the homeownership rate to 70% by 2030. The new housing units will be part of high-quality, integrated residential communities that meet the Kingdom’s urban development standards.
Al-Hogail will also meet with executives from Chinese banks. These discussions will focus on expanding cooperation in infrastructure financing and exploring new home loan solutions to benefit Saudi citizens.
In recent years, Al-Hogail has led similar international missions. His outreach aims to attract investment, strengthen partnerships, and import global expertise to support the Kingdom’s real estate goals under Vision 2030.
