Al-Hogail discusses cooperation opportunities with the heads of a number of Spanish companies

His Excellency the Minister of Municipal, Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Hogail, met today, in the Spanish capital, Madrid, with a number of CEOs of major Spanish companies, to discuss opportunities for cooperation in the fields of developing city infrastructure, construction, construction, renewable energy, and engineering technology, during the second day of his visit. The official event of the Kingdom of Spain, which lasts for 3 days during the period from April 15-17.
At the beginning of the tour, His Excellency the Minister met with the CEO of TYPSA, Pablo Bueno, to discuss opportunities for cooperation in the fields of infrastructure solutions, buildings, renewable energy, environment, and cities. Opportunities for activating the circular economy approach in buildings and infrastructure, creating asset management platforms, and developing value engineering solutions were reviewed. New.
His Excellency met with the CEO of “Indra” Company, Jose Vincent – the world’s leading company in the field of engineering technology and consulting – where the meeting discussed opportunities for cooperation in the field of digital transformation of municipal affairs and enhancing innovation to raise the quality of services provided to beneficiaries, reviewing the investment opportunities provided by the Kingdom of Saudi Arabia in Various municipal sectors, housing and city infrastructure.
His Excellency also met with the President of the National Union of Building and Construction, Pedro Fernandez Allen, to discuss ways of joint cooperation, exchange experiences, and present the most prominent directions of the Kingdom’s Vision 2030 for the housing sector and investment opportunities in the residential sector in the Kingdom, noting the volume of Spanish investments in the Kingdom, which amounted to more than $3 billion, from Including 40% in the real estate sector.
Al-Hogail pointed out that the Kingdom is witnessing a boom in the housing system and real estate activities, as it was able during the past five years to provide housing solutions that benefited 1.5 million families, pumping about half a million residential products and launching a number of major residential suburbs, stressing that the Kingdom is working to continue enhancing Residential real estate supply by pumping more than 300,000 housing units until 2025, and reaching nearly one million housing units until 2030.
His Excellency noted the renaissance witnessed by the real estate activities sector in the Kingdom, which has contributed to raising its attractiveness to local and international investments and its unprecedented growth, as the sector’s contribution to the non-oil GDP reached 12.2%, while the construction sector’s contribution reached 11.3% until the third quarter of 2023. ; The sector is also linked to more than 120 economic industries.
It is noteworthy that His Excellency the Minister of Municipal, Rural Affairs and Housing will sponsor tomorrow, Wednesday, the launch of the Saudi-Spanish Business Forum, which is organized by the Union of Saudi Chambers and the Chamber of Spain, represented by the Joint Saudi-Spanish Business Council, in the presence of more than 100 companies from both sides, as it highlights areas of cooperation in the fields of technology. Construction, smart cities and urban planning.