Saudi Arabia, China sign 6 deals, SAR 1.9B projects

The awarded projects include more than 4,400 housing units in Riyadh and Dammam

Saudi and Chinese entities signed six agreements and memoranda of understanding, in the presence of Majed bin Abdullah Al-Hogail, Minister of Municipal Rural Affairs and Housing, on the first day of his official visit to China.

The agreements covered investment in the construction sector, localization of modern building technologies, knowledge and expertise, human capital, and public-private partnerships. They also covered engineering design, financing solutions, project studies, contributing to efficiency, delivery, and improved quality of housing projects.

New housing projects were awarded in Riyadh and Dammam at a total value exceeding SAR 1.9 billion, as part of efforts to strengthen the Saudi-Chinese partnership in the housing and construction sectors.

The projects included Al Ruba housing project in Riyadh with CACC, featuring 2,010 residential units valued at SAR 875 million, in addition to Al Rasha project in Dammam with China State, comprising 2,426 housing units valued at SAR 1.06 billion.

The 2025 target was completed with contracts signed for the implementation of 18,000 housing units, while contracts signed for 2026 exceeded 19,000 units, bringing the total number of contracted housing units to more than 37,000.