Dubai, UAE — Deals worth SAR 2.3 billion ($613 million) were signed between Saudi Arabian and Turkish companies on the sidelines of the Saudi-Turkish Business Forum that kicked off in Istanbul on Wednesday.
The deals have been signed for real estate development, construction, engineering consultancy and a number of other investment sectors.
The forum was launched in the presence of Saudi Minister of Municipal and Rural Affairs and Housing, Majid bin Abdullah Al-Hogail and the Turkish Minister of Trade, Omer Polat.
The forum reviews opportunities for Saudi-Turkish investments, and strengthening partnerships between the two sides in the fields of urban development, construction, contracting, smart cities and urban development, in cooperation between the Federation of Saudi Chambers of Commerce and the Council on Foreign Economic Relations.
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. 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.