Saudi-Spanish Business Forum: $3 Billion in Investments and Growing Partnerships in Construction, Energy, and Urban Planning
Spanish investments in Saudi Arabia have exceeded $3 billion over the past 10 years, with significant contributions to sectors like construction, civil engineering, finance, energy, and water desalination.
The Saudi-Spanish Business Forum was held on April 17, 2023, and was organized by the Council of Saudi Chambers and the Saudi-Spanish Business Council.
The Kingdom's Minister of Municipal, Rural Affairs, and Housing, Majed Al-Hogail, emphasized the positive outcomes of the 70-year relationship between the two countries, which has led to increased development, investment, and advancements.
Approximately 40% of Spanish investments in Saudi Arabia are in real estate.
A forum was held in Madrid to explore financial opportunities and strengthen partnerships between Saudi Arabia and Spain, focusing on construction technologies, smart cities, and urban planning.
The Saudi Arabian Minister emphasized the importance of the forum for investment and cooperation, particularly in municipal and housing sectors.
He highlighted the rapid development of both countries and the Kingdom's welcome for international expertise and collaboration.
A real estate development agreement was signed between a Saudi Arabian and Spanish development company to build residential units and increase homeownership to 70 percent by 2030.
The Saudi Arabian minister of housing expressed his desire to enhance partnerships with developers and investors in sectors like construction, roads, recycling, engineering, and consulting.
After a forum with Spanish officials, including the ambassador and the president of the Saudi-Spanish Business Council, the minister met with Spain's deputy prime minister and minister of ecological transition to discuss cooperation in urban development, urbanization, and sustainable city building using artificial intelligence technology.
The Saudi Arabian efforts to improve municipal and housing projects were highlighted, including the "Bahja" project aimed at enhancing city life and the "Green Suburbs" initiative to plant over 1.3 million trees in 50 residential areas.
Minister Al-Hogail of Saudi Arabia met with the President of the Spanish Association of Infrastructure Contractors and Concessionaires, Julian Nunez, to discuss investment opportunities in the Saudi real estate sector.
This was part of a three-day visit where Al-Hogail met with executives from leading Spanish companies to explore collaboration opportunities.
The tour is part of Saudi Arabia's initiative to build international partnerships and enhance its urban and infrastructure capabilities.
The Kingdom's Minister of Municipal, Rural Affairs, and Housing, Majed Al-Hogail, emphasized the positive outcomes of the 70-year relationship between the two countries, which has led to increased development, investment, and advancements.
Approximately 40% of Spanish investments in Saudi Arabia are in real estate.
A forum was held in Madrid to explore financial opportunities and strengthen partnerships between Saudi Arabia and Spain, focusing on construction technologies, smart cities, and urban planning.
The Saudi Arabian Minister emphasized the importance of the forum for investment and cooperation, particularly in municipal and housing sectors.
He highlighted the rapid development of both countries and the Kingdom's welcome for international expertise and collaboration.
A real estate development agreement was signed between a Saudi Arabian and Spanish development company to build residential units and increase homeownership to 70 percent by 2030.
The Saudi Arabian minister of housing expressed his desire to enhance partnerships with developers and investors in sectors like construction, roads, recycling, engineering, and consulting.
After a forum with Spanish officials, including the ambassador and the president of the Saudi-Spanish Business Council, the minister met with Spain's deputy prime minister and minister of ecological transition to discuss cooperation in urban development, urbanization, and sustainable city building using artificial intelligence technology.
The Saudi Arabian efforts to improve municipal and housing projects were highlighted, including the "Bahja" project aimed at enhancing city life and the "Green Suburbs" initiative to plant over 1.3 million trees in 50 residential areas.
Minister Al-Hogail of Saudi Arabia met with the President of the Spanish Association of Infrastructure Contractors and Concessionaires, Julian Nunez, to discuss investment opportunities in the Saudi real estate sector.
This was part of a three-day visit where Al-Hogail met with executives from leading Spanish companies to explore collaboration opportunities.
The tour is part of Saudi Arabia's initiative to build international partnerships and enhance its urban and infrastructure capabilities.
Translation:
Translated by AI
