Minister of Municipalities and Housing, Eng. Majed bin Abdullah Al-Hogail, received today at his office in the ministry's headquarters in Riyadh, the Minister of Environment, Urbanization and Climate Change of the Republic of Turkey, Mr. Murat Kurum.

Funding urban projects to enhance investment efficiency and keep pace with transformations in the sector.

During the meeting, they discussed ways to enhance bilateral cooperation and exchange expertise in the housing, real estate development, and urban development sectors, supporting the strategic partnership between the two countries.

The two sides explored opportunities for broader cooperation in economic models for the housing and urban development sector, by exchanging best practices in partnerships with the private sector, real estate financing tools, and sustainability of urban project funding, to enhance investment efficiency and keep pace with transformations in the real estate sector in both countries, in addition to exchanging expertise in urban development, housing project management, sustainability, and smart cities.

Al-Hogail noted the contributions of Turkish contracting companies, which have implemented 434 projects in the Kingdom with an investment value of $32.5 billion, stressing the importance of developing official investment channels under direct government supervision to protect investors, remove obstacles, and improve the business environment in both countries.

During the meeting, he also pointed to the strength of Saudi-Turkish relations, affirming that both countries represent a pivotal economic weight within the G20, as Saudi Arabia's GDP exceeds $1.28 trillion and Turkey's GDP reaches $1.60 trillion for 2025, totaling approximately $3 trillion combined, which opens broad prospects for increasing trade volume and enhancing investment partnerships in municipal and real estate sectors.

On the sidelines of the meeting, a memorandum of understanding was signed between the Ministry of Municipalities and Housing of the Kingdom and the Ministry of Environment, Urbanization and Climate Change of the Republic of Turkey, aimed at enhancing institutional cooperation, exchanging expertise in housing, real estate development, and urban development, supporting investment partnerships, and developing joint initiatives that contribute to achieving sustainable urban development in both countries.

This meeting comes within the framework of the Ministry of Municipalities and Housing's keenness to strengthen international partnerships, exchange global best practices, and develop institutional cooperation, contributing to achieving the goals of Saudi Vision 2030, improving the quality of life, and supporting sustainable urban development in the Kingdom.