en.Wedoany.com Reported - Saudi Arabia has set a target of developing 100,000 housing units in cooperation with Chinese companies by 2030. During the visit of Saudi Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail to China from June 13 to 16, 2026, six cooperation agreements and memoranda of understanding were signed between companies from both countries at the Saudi-China Contractors Forum held in Shenzhen. Al-Hogail awarded Chinese companies new housing construction orders totaling 1.9 billion Saudi riyals (approximately $507 million).
Saudi Arabia's "Vision 2030" aims to increase the national homeownership rate from 63.7% in 2023 to 70% by 2030. According to the Saudi Press Agency, Riyadh had already finalized contracts for 18,000 housing units in 2025, and cumulative signed contracts have exceeded 19,000 units so far in 2026. The National Housing Company (NHC) of Saudi Arabia has invested over 140 billion Saudi riyals (approximately 270 billion yuan) in residential development.
During the Shenzhen forum, China Construction and Civil Engineering (CACC) secured a contract worth 875 million Saudi riyals to build 2,010 residential units in the Al-Ruba housing project in Riyadh. Another Chinese company won a contract worth 1.06 billion Saudi riyals to undertake 2,426 housing units in the Al-Rasha Al-Faisaliyah project in Dammam. The two contracts total nearly 4,500 housing units. Al-Hogail stated on social media that partnerships with Chinese companies are transforming the vision into tangible results day by day.
Mohammed Albuti, CEO of the National Housing Company (NHC), welcomed Chinese companies to participate in multi-field cooperation, particularly in smart city construction, establishment of joint technology R&D centers, and mutual recognition of industry standards. The series of housing construction plans are deeply aligned with Saudi Vision 2030, helping to achieve the development goal of an annual real estate economy scale exceeding $85 billion. According to Xinhua News Agency, Al-Hogail stated that the 100,000-unit housing plan will help promote the sustainable development of the real estate market and create new investment and industrial opportunities.
To further deepen China-Saudi infrastructure cooperation, the Public Investment Fund (PIF) of Saudi Arabia established its second office in mainland China (after Beijing) in Shanghai in 2026, continuously strengthening two-way investment linkages between China and Saudi Arabia. Previously, in October 2025, NHC signed a framework agreement with China Construction Seventh Engineering Division to build 20,000 housing units (valued at 8.7 billion Saudi riyals) and signed construction agreements for over 24,000 housing units with multiple Chinese companies. According to statistics from the Saudi Press Agency, Metallurgical Corporation of China has completed 1,184 housing units, and PowerChina has completed 1,824 units. To date, the total number of housing units signed under China-Saudi cooperation has exceeded 37,000.
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