RIYADH: Saudi Arabia’s Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail convened a meeting in the Chinese capital, Beijing, with several heads of Chinese banks, the Saudi Press Agency reported on Tuesday.

The meeting was held to discuss potential investment and development opportunities in infrastructure projects within the municipal and housing sectors in Saudi Arabian cities.

During the meeting, Al-Hogail engaged in discussions with the heads of the Export-Import Bank of China, China Development Bank, and Industrial and Commercial Bank of China Limited.

They focused on Saudi Arabia’s housing plans and programs, which entail providing housing schemes and improving the quality of the housing sector.

They also covered aspects regarding master plans for building technologies and project sustainability and plans that encompass financing and refinancing programs from banks to facilitate housing development.

Al-Hogail explored opportunities for joint cooperation and collaborated on various financing models for infrastructure projects in Saudi Arabia.

He expressed his keenness to open new horizons and avenues for Saudi-Chinese investment and to strengthen partnerships with Chinese banks and companies that specialize in urban infrastructure development, housing, and financing.

Al-Hogail is currently serving as patron of the Saudi-Chinese Business Forum, which is set to launch in Beijing on Wednesday and will be attended by officials from the ministry, Saudi investors, Chinese companies, and businessmen.

The forum is designed to review investment opportunities and advantages provided by the Kingdom, particularly within the areas of infrastructure and housing.

“The ultimate goal is to attract the best Chinese companies for investment and foster stronger partnerships between the two nations,” SPA said.

Saudi Arabia and China sealed 35 investment agreements worth around $30 billion during the visit of Chinese President Xi Jinping to the Kingdom last December. Among these was an action plan to activate the housing memorandum of cooperation provisions, signed by Al-Hogail and Wang Wentao, China’s commerce minister.

Last month, Al-Hogail visited Turkiye, where he attended the launch of the Saudi-Turkish Business Forum in Istanbul. He also met with several Turkish officials, businesspeople, and investors.

The visit to Turkiye also sought to enhance cooperation opportunities with Turkish companies in urban and real estate development, construction, contracting and smart cities.