Al-Hogail’s visit to China… agreements to implement more than 24 thousand housing units
The heads of the companies of the Seventh China Construction Bureau of General Engineering, CITIC Group and CACC met, during which the expansion of Partnerships in the areas of urban development and EPC+F models that link financing to implementation, in addition to the signing of two framework agreements that include the implementation of more than 24 thousand housing units, in addition to strategic agreements to support supply chains and the localization of the building and construction industries through digital initiatives provided by the SupplyPro platform at NHC, which contributes to enhancing and developing the localization of industries and securing chains. Supply, in addition to reducing costs in building and construction. The agreements included signing a framework agreement with the Seventh Chinese Construction Bureau of General Engineering to implement 20,000 housing units worth 8.70 billion riyals, which is the fifth project that brings together the two sides. The second project was also awarded to CACC, with the company encouraged to participate in the 20,000 unit program. CMEC and CITIC Group held working meetings to enhance partnership and participation within the same program, in addition to discussing the localization of supply chains related to construction materials and technologies. He stressed Housing Program He added that this step contributes to achieving the goals of the housing program – one of the programs of the Kingdom’s Vision 2030 – to raise the ownership rate. To 70% by 2030, and enhance the sustainability of the real estate market, and generate new investment and industrial opportunities that support local content and provide quality job opportunities. He stressed that the Ministry – with the support of the wise leadership – is continuing to expand its international partnerships through the National Housing Company (NHC) to accelerate the pace of construction, improve the quality of projects, and link development with advanced financing models and chains. Stable supply. He explained that the visit to China constituted an important step in the path of developing joint cooperation in the fields of housing and smart cities, keeping pace with the rapid urban growth in the Kingdom’s cities within the goals of the Kingdom’s Vision 2030.
The Minister of Municipalities and Housing concluded Today, his official visit to the People’s Republic of China, which lasted two days, witnessed the signing of a group of agreements and memorandums of understanding by NHC with a number of major Chinese companies, within the plan to implement 100,000 Saudi-Chinese housing units until the year 2030, within the framework of strengthening international partnerships in the fields of Urban Development Localization of chains. Supply
