RIYADH: Saudi Arabia has signed six agreements and memorandums of understanding with Chinese entities and awarded housing projects worth more than SR1.9 billion ($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 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.
The announcements underscore China’s growing role in Saudi Arabia’s construction and infrastructure sectors, where Chinese firms are increasingly involved in housing, transport and major development projects aligned with the Kingdom’s Vision 2030 diversification agenda.
In a post on X, 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.”
