Saudi Arabia and Turkiye have strengthened ties in real estate development, road infrastructure, waste management and recycling. The Saudi Press Agency reports that the Kingdom’s Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail has ended an official visit to Turkiye to enhance co-operation in these fields.
In Istanbul, the minister attended the launch of the Saudi-Turkish Construction Forum and the accompanying workshop, which was organized by the Saudi Contractor Authority to link contracting companies in the two countries
During the session, Al-Hogail stressed the importance of coordination and joint work between Saudi and Turkish companies in the fields of environment, roads, cleanliness, waste management and recycling. Al-Hogail also attended round table meetings between the Saudi and Turkish sides to review the most prominent opportunities and pioneer investment projects in the real estate sector.
He also highlighted the Kingdom’s efforts in the fields of building technologies. During the meetings, he expressed his desire to deepen partnerships with the Turkish side through cooperation with contractors, developers and investors in Turkiye’s construction sector and to contribute to implementing and developing suburbs and major residential projects in the Kingdom.
He says that the ministry is working through the housing program to develop real estate projects in the Kingdom with approximately 200 real estate developers from private sector companies, and qualifying many developers to enter into residential projects.
The minister last visited Turkiye in July last year, where he sponsored the Saudi-Turkish Business Forum, where several cooperation agreements were signed between Saudi and Turkish companies in the fields of real estate development, construction, engineering consulting and other investment sectors.
This comes after Saudi Arabia agreed to buy Turkish drones and other equipment last year.This was one of several lucrative contracts President Recep Tayyip Erdogan secured for his country’s struggling economy as Ankara reaps the benefits of his recent diplomatic push to repair ties with Gulf Arab powers.
Erdogan visited Saudi Arabia last year accompanied by an entourage of some 200 businesspeople.Both countries signed several memorandums of understanding (MoUs) in many fields, including energy, direct investments and defence industries.
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