Saudi Arabia has signed six agreements and memorandums of understanding (MoU) with Chinese entities, awarding housing projects worth over SR1.9 billion (USD 506 million) in Riyadh and Dammam.
“The deals, announced during an official Saudi visit to China running from June 13 to 16, cover investment in the construction sector, the adoption of modern building technologies, knowledge transfer, human capital development, and support for public-private partnerships,” the Saudi Press Agency (SPA) reported.
“The agreements also include engineering design, financing solutions, and project studies and pricing aimed at improving implementation efficiency, accelerating project delivery, and enhancing the quality of housing developments,” SPA noted further.
The agreements and MoUs further consolidate China’s growing role in the Kingdom’s construction and infrastructure sectors. Chinese firms are already involved in housing, transport, and major development projects aligned with the Kingdom’s “Vision 2030″ socio-economic diversification agenda.
In a post on X (formerly Twitter), Saudi Minister of Municipalities and Housing Majed Al-Hogail said: “Our partnerships with Chinese companies continue to affirm, day by day, their ability to transform ambitions into tangible achievements. The announcement of awarding the Al-Ruba project in Riyadh to CACC, alongside awarding the Al-Rasha Al-Faisaliyah project in Dammam and the handover of the Al-Hawiyah projects in Taif, reflects the ongoing efforts to elevate the housing supply.”
Talking about Riyadh’s partnership with Chinese companies, the plan is to deliver 100,000 housing units by 2030. Contracts covering 18,000 homes have already been concluded to meet the Kingdom’s 2025 target, while agreements for more than 19,000 additional units have been signed for 2026, bringing the total tally to over 37,000.
As per Al-Hogail, the initiatives support efforts to localize advanced construction technologies, apart from increasing local content, improving project execution, and expanding housing supply in line with “Vision 2030” goals.
“International partnerships have helped Saudi Arabia to strengthen supply chains, develop national capabilities, and improve project quality, while supporting the Kingdom’s ambition to position itself as a leading destination for real estate development and housing investment,” Al-Hogail noted.