Saudi Arabia’s Minister of Housing Majed Al-Huqail has signed a
memorandum of understanding with Chinese Deputy Minister of Trade Qian
Keming in the field of housing.
The MoU
was signed on the sidelines of the visit of Deputy Crown Prince Mohammed
Bin Salman, Second Deputy Premier and Minister of Defense.
Al-Huqail
also signed a memorandum of cooperation between the ministry and
Ningxia Region in China to develop Al-Asfar outskirts in Al-Ahsa
Province and build 100,000 housing units.
In
a press statement, the minister of housing stressed that these
memoranda seek to achieve the Housing Ministry’s strategic aim in
stimulating the real estate development and raising productivity.
Deputy
Crown Prince met at his place of stay Deputy Chairman of Chinese
Investment Authority “Capital” Jo Yemin and a number of officials of the
authority.
Prince Mohammed also met
officials of Chinese banks, including Bank of China, Bank of China for
Telecommunications and Asian Infrastructure Investment Bank.
