Riyadh: Minister of Municipalities and Housing Majed Al-Hogail met today at the ministry headquarters with Trkiye's Minister of Environment, Urbanization and Climate Change Murat Kurum. The meeting reviewed ways to enhance cooperation and exchange expertise in the housing, real estate development, and urban development sectors, supporting the strategic partnership between the two countries.
According to Saudi Press Agency, the two sides also discussed opportunities to expand cooperation on economic models for the housing and urban development sectors through the exchange of best practices in public-private partnerships, real estate financing tools, and sustainable financing for urban projects. They also explored cooperation in urban development, housing project management, sustainability, and smart cities to enhance investment efficiency and keep pace with developments in the real estate sectors of both countries.
Al-Hogail praised the contributions of Turkish construction companies, which have implemented 434 projects in the Kingdom with a total investment value of $32.5 billion. He stressed the importance of developing official investment channels under direct government supervision to protect investors, remove obstacles, and enhance the business environment in both countries.
He also emphasized the strength of Saudi-Turkish relations, noting that both countries are major economies within the G20. The minister said Saudi Arabia's gross domestic product exceeds $1.28 trillion, while Trkiye's GDP reached $1.60 trillion in 2025. He added that the combined GDP of nearly $3 trillion creates broad opportunities to expand trade and strengthen investment partnerships in the municipal and real estate sectors.