en.Wedoany.com Reported - Alwalid Albaltan, Chairman of the Saudi Arabia-Portugal Business Council (SPBC), recently concluded a visit to Portugal, focusing on promoting investment cooperation between the two countries in the fields of real estate, construction, and affordable housing. He announced that the investment holding company SDCI (Strategic Deals Company for Investment) has been officially established, prioritizing the identification and development of opportunities in sectors such as construction, tourism, and affordable housing.
Albaltan stated that this was his fourth visit to Portugal as SPBC Chairman and private investor. During the visit, he attended intensive institutional meetings in Lisbon and Porto and held talks with several Portuguese companies. He believes that bilateral relations have shifted from verbal commitments to concrete actions, with the official opening of SDCI being one of the specific steps. The company will serve as an investment holding company in Portugal, with a particular focus on the construction and housing sectors. Additionally, SDCI has already deployed a local team and commissioned Portuguese law firms to conduct market research in strategic areas.
Albaltan noted that Saudi Arabia's mega-projects, such as the 2030 Riyadh World Expo and the 2034 FIFA World Cup, will generate tangible demand in the real estate and construction sectors, where Portuguese companies possess internationally recognized capabilities. At the same time, Saudi investments in Portugal, through companies like SDCI, can help drive the development of the local real estate market.
Regarding increasing the supply of affordable housing, Albaltan stated that this is one of SPBC's priorities. He believes affordable housing is a common challenge faced by multiple regions in Portugal. During recent visits, SPBC has met with municipalities such as Lisbon, Oeiras, Vila Nova de Gaia, Matosinhos, and Cascais, all of which share similar concerns. Investments are still in a rigorous market evaluation phase, but construction and housing are clear directions for SDCI.
In response to the impact of the Portuguese government's reduction of VAT on housing construction from 23% to 6%, Albaltan replied that as an investor, he is not qualified to comment on technical details, but SPBC will comply with all current regulations. He emphasized that business decisions should consider all dimensions comprehensively, with the focus on making tangible contributions to the growth of housing supply to meet market demand.
During the visit, Albaltan met with companies such as Revigrés, ACA Group, Sana Group, and AM Furniture, as well as industry associations including AIMMAP (Portuguese Association of Metallurgical, Metalworking and Related Industries) and Produtech. He stated that these Portuguese companies possess technical capabilities and international ambitions, and the Saudi market offers concrete opportunities for their growth.
Albaltan emphasized that SPBC has advanced partnerships with institutions such as CCIP (Portuguese Chamber of Commerce and Industry), AEP (Portuguese Business Association), the Portugal-Saudi Arabia Parliamentary Friendship Group, and the Produtech cluster. He also mentioned that a meeting with the President of ANJE (National Association of Young Entrepreneurs) laid the groundwork for creating the ANJE Saudi Arabia platform, which aims to support Portuguese SMEs and startups in entering the Saudi market and promote Saudi investments in Portugal.
Albaltan concluded that Portugal offers an environment of security, institutional stability, openness to foreign investment, and lower entry costs compared to other major European markets. In the current uncertain international climate, this predictability is crucial for investment decisions. He noted that the two countries are gradually building a solid partnership, with real estate and construction being among the most promising pillars of this connection.
