Riyadh, Saudi Arabia – The Saudi-Turkish Business Forum which began on Wednesday in Istanbul, witnessed the signing of 16 agreements worth over SAR 2.3 billion ($0.62 billion) between the Saudi side and Turkish companies operating in various investment sectors, including real estate development, construction, and engineering consulting.
The objective of the forum – a collaboration between the Federation of Saudi Chambers of Commerce and the Foreign Economic Relations Board of Turkiye (DEIK) – is to explore investment prospects between Saudi Arabia and Turkiye and strengthen bilateral partnerships in urban development, construction, contracting, smart cities, and urban development.
The forum was attended by the Saudi Minister of Municipal, Rural Affairs, and Housing, Majid bin Abdullah Al-Hogail, and the Turkish Minister of Trade, Omer Bolat.
Al-Hogail emphasized that the forum provides an opportunity to improve cooperation, unite efforts, and exchange expertise in the municipal and housing sectors. He also expressed hope for enhanced cooperation in real estate development, automation, and infrastructure projects through this forum.
Urging all Turkish companies to consider investing in real estate development in the Kingdom. Saudi minister highlighted his country’s ongoing efforts to construct over 300,000 housing units across an area exceeding 150 million square meters, with an investment value surpassing SAR 100 billion ($27 billion).
Al-Hogaii also attended a meeting with the Turkish Minister of Trade, along with Saudi and Turkish investors and businesspeople, to discuss investment opportunities and areas of cooperation between the two sides.