A Saudi-Chinese partnership worth more than 3 billion riyals, to establish an industrial city and logistics zones to improve the quality of projects, contributing to the creation of about 10,000 direct and indirect job opportunities.
a statement Muhammad Al-Bati, CEO of National Housing Company, during the opening Imda Chains Forum D Real Estate 2024, in the capital, Riyadh; The value of “Mawad” platform transactions has reached 2 billion riyals since its launch.
He explained that the company plays a strategic role in achieving goals Housing programme By providing qualitative and proactive solutions to secure supply chains and support local content.
Al-Batti pointed out tha t “Maawad” platform It included 140 agreements with more than 90 local manufacturers and suppliers, helping to achieve savings for developers and contractors of more than 20%. The company also achieved a rate of benefiting from local content of up to 54% in its projects, and contracted with more than 2,000 local establishments through the “Rakaez” program, which was launched at the beginning of this year.
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He added that the partnership with the Chinese CITIC Group, worth more than 3 billion riyals, aims to establish an industrial city and logistics zones to improve the quality of projects and enhance local production. This partnership is expected to create about 10,000 direct and indirect job opportunities, and contribute to maximizing the economic impact of the real estate sector with a value of up to 33 billion riyals.
“National Housing” also concluded several agreements with Chinese and local factories to join the industrial city and logistics zones for building materials in Riyadh, which enhances the security of supply chains, the quality of projects, and the speed of their completion. The forum included dialogue sessions to discuss the latest developments in the field of real estate development and highlight the contributions of industrial cities in enhancing efficiency and added value to the sector.
The forum, which was opened by the Minister of Municipal, Rural Affairs and Housing, Majed Al-Hogail, in the presence of a number of officials from the public and private sectors, and representatives of local and international companies, witnessed the signing of 77 agreements, including 6 memorandums of understanding and 20 agreements for companies wishing to invest in industrial zones, in addition to 23 agreements. For open purchasing for developers and contractors via the “Mawad” platform.
28 deals were also completed through the platform to purchase building materials from industrial areas.
