Riyadh — Saudi Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail extended an open invitation to American investors to participate in the Kingdom’s real estate and smart city sectors, highlighting a shift from traditional financing to strategic partnerships focused on sustainable urban solutions.
Speaking at an investment forum, Al-Hogail said the Kingdom is undergoing unprecedented urban transformation, driven by Vision 2030, with over 11,000 development projects underway across more than 300 municipalities. These projects span housing, infrastructure, and quality-of-life initiatives, many of which involve existing U.S. partnerships.
He emphasized that homeownership in Saudi Arabia has risen from 47% to over 60% since the launch of Vision 2030, with a target of 70% by 2030.
The ministry is currently redeveloping three major cities with the help of over 80 domestic private-sector partners and is actively seeking to expand these efforts to include global investors, particularly U.S. firms with expertise in smart city technologies, facilities management, and sustainable urban design.
“We’re not just looking for capital,” Al-Hogail said. “We’re looking for partners to help shape the future of Saudi cities.”
