Arab News, Thu, May 16, 2024 | Dhu al-Qadah 8, 1445
Saudi property forum to enhance local real estate supply chain access
Saudi Arabia:
Saudi real estate firms are poised to gain improved access to the supply chain
with major industry players set to gather in Riyadh for an event designed to
enhance cooperation and forge partnerships.
Under the patronage of the Minister of Municipal
and Rural Affairs and Housing Majid bin Abdullah Al-Hogail, the National Housing
Co. will host the Real Estate Supply Chain Forum from May 20 to 21 at the JW
Marriot Hotel Riyadh, with the aim of fostering the growth of the property
sector.
The event will gather a diverse array of local and
international companies, consultants, contractors, and manufacturers to explore
collaborative opportunities aimed at delivering integrated housing projects
focused on quality and affordability, according to the Saudi Press Agency.
The forum will also provide promising investment
opportunities, facilitate the signing of investment agreements and strategic
partnerships, establish new standards, and find innovative solutions for real
estate development.
Additionally, the gathering will unveil the latest
agreements to secure supply chains between the NHC and a range of local and
global partners.
Several scheduled dialogue sessions will showcase
the latest technologies in the building materials industries. These talks will
facilitate the exchange of expertise between local and international companies,
aiming to enhance the supply chain network.
On May 5, the NHC signed a deal with China’s
leading firm, CITIC Construction Group, to establish an industrial city and
logistic zones for building materials, comprising 12 factories, with
the objective of securing supply chains for the NHC’s housing projects.
NHC CEO Mohammad Al-Buty finalized the deal during
Al-Hogail’s official visit to China.
The NHC said the agreement with the Chinese
construction group is part of its efforts to secure supply chains for its
housing projects and ensure their timely completion and high quality.
The Saudi company highlighted that the deal
includes the construction of 12 factories specializing in building materials,
harnessing Chinese expertise, and involving local factories to uplift business
standards.
It added that the agreement also aims to draw
top-tier service providers across various company sectors, its subsidiaries, and
other projects.
The firm pointed out that the pact is expected to
maximize the economic and developmental impact of the real estate sector in the
Kingdom, develop housing projects, enhance their quality, and promote national
transformation in the construction sector through these industrial cities and
logistic zones.