16 deals worth SAR 2.3 bln signed in Saudi-Turkish Business Forum

An agreement signing ceremony 

The Saudi-Turkish Business Forum kicked off, on July 12, in Istanbul, with 16 cooperation agreements worth SAR 2.3 billion signed in real estate, construction, engineering consultancy and other investment sectors, according to the Saudi Press Agency (SPA).  

The forum, attended by Saudi Minister of Municipal, Rural Affairs and Housing Majed Al Hogail and Turkish Trade Minister Omar Bolat, reviewed opportunities for bilateral investments and strengthening partnerships in urban development, construction, contracting and smart cities in cooperation between the Council of Saudi Chambers and the Foreign Economic Relations Board of Turkey (DEiK).  

Al Hogail said the forum is an opportunity to enhance cooperation and exchange successful experiences in the municipality and housing sectors.  

The minister noted that the Kingdom is witnessing qualitative progress in various economic and development sectors, including the municipal and housing sectors, achieved through effective strategic planning to attain Vision 2030 goals.  

He asserted the need to boost cooperation between the two countries in real estate development, automation, and infrastructure projects.  

Meanwhile, Al Hogail pointed out that Saudi Arabia provides many promising and diverse investment opportunities.  

He said that the Kingdom has started building more than 300,000 housing units worth more than SAR 100 billion, inviting Turkish companies to invest in the Kingdom’s property market.