Riyadh: Minister of Municipalities and Housing Majed Al-Hogail is scheduled to begin an Asian tour tomorrow to the People's Republic of China and the Republic of Korea, aimed at boosting international partnerships in the fields of housing, urban technologies, and smart cities, in line with the goals of Saudi Vision 2030 to develop an integrated urban environment and enhance the quality of life in Saudi cities.
According to Saudi Press Agency, Al-Hogail will start his tour with an official visit to Beijing, where he will hold extensive meetings with officials and partners in urban development and industrial construction. The visit will also include signing new agreements to deliver 100,000 housing units by 2030, supporting supply sustainability and diversifying housing solutions for Saudi citizens.
The minister will then travel to Seoul, where he will discuss ways to enhance cooperation in smart city development, urban facility management, and digital transformation in housing services. The visit will also witness new agreements with leading Korean companies specializing in urban technologies and smart construction.
During his visit to the Republic of Korea, Al-Hogail will highlight previous Saudi-Korean partnerships in the real estate and technology sectors, including the strategic agreement between the National Housing Company (NHC) and NAVER Corporation, signed under his patronage last November during the Cityscape Global in Riyadh, with an estimated value exceeding SAR2 billion. The agreement aimed to establish a strategic investment partnership to develop innovative digital solutions combining artificial intelligence, digital twin, and cloud computing, thereby enhancing efficiency and transparency across the real estate and municipal sectors.
This tour represents an advanced step toward reinforcing Saudi Arabia's position as a regional hub for modern urban development, raising the homeownership rate to 70% by 2030, and promoting a sustainable real estate balance through diversified partnerships, technology transfer, and localization of industry, in support of national economic growth and citizen well-being.