Saudi & Chinese Firms Sign Memoranda in Housing & Construction
Housing projects worth over SAR 1.9 billion were also awarded in Riyadh and Dammam.
Six memoranda of understanding have been signed between Saudi and Chinese entities during the Saudi-Chinese Contractors Forum in Shenzhen, alongside the award of housing projects in Riyadh and Dammam valued at more than SAR 1.9 billion.
The agreements focus on investment, the localisation of modern construction technologies, knowledge transfer, human capability development and support for public-private partnerships. Areas of cooperation include sustainable construction, advanced technological solutions, supply chain development and joint investment opportunities.
They also cover the localisation of engineering, procurement and construction value chains, as well as modern building technologies, robotics, smart systems and the building materials and metals supply chain.
Two residential projects were awarded during the forum. China's CACC secured the Al-Ruba project in Riyadh, comprising 2,010 housing units valued at SAR 875 million, while China State Construction Engineering Corporation was awarded the Al-Rasha Al-Faisaliyah project in Dammam, which includes 2,426 homes valued at SAR 1.06 billion.
Together, the developments will add 4,436 housing units.
Separately, the National Housing Company signed a memorandum of understanding with Sinoma aimed at attracting international companies with advanced execution and financing capabilities to participate in large-scale residential projects in the Kingdom. The agreement also seeks to support technology transfer, localise construction-related industries and develop national talent.
Discussions at the forum covered modern construction methods, prefabrication, smart cities, sustainability, artificial intelligence applications and digital technologies used in urban project management. Participants also reviewed digital transformation initiatives and partnerships with technology companies including Huawei and ByteDance.
