Saudi Arabia and Türkiye have discussed expanding cooperation in housing, real estate development, and urban planning to strengthen investment and knowledge exchange between the two countries.
The discussions took place during a meeting between Majed Al-Hogail, Saudi Arabia’s Minister of Municipalities and Housing, and Murat Kurum, Türkiye’s Minister of Environment, Urbanization and Climate Change, at the ministry’s headquarters in Riyadh.
The meeting focused on strengthening collaboration between the two countries through the exchange of expertise and best practices in housing and urban development, in line with their broader strategic partnership.
The two ministers discussed opportunities to expand cooperation on economic models for the housing and urban development sectors, including public-private partnerships, real estate financing, and sustainable financing for urban projects.
They also reviewed cooperation in urban planning, housing project management, sustainability, and smart cities to improve investment efficiency and support the development of the real estate sector in both countries.
Construction and economic cooperation
Majed Al-Hogail said that Turkish construction companies have completed 434 projects in Saudi Arabia with a combined investment value of $32.5 billion.
Al-Hogail highlighted the importance of developing official investment channels under government supervision to facilitate investment, address challenges, and improve the business environment for investors in both countries.
The minister also noted that Saudi Arabia and Türkiye are both G20 economies, and Saudi Arabia’s gross domestic product exceeds $1.28 trillion, while Türkiye’s GDP reached $1.60 trillion in 2025.
Majed Al-Hogail emphasized that the combined economic output of nearly $3 trillion provides opportunities to expand trade and strengthen investment partnerships in the municipal and real estate sectors.
