Saudi Arabia has awarded new housing projects worth more than SAR1.9 billion ($506 million) in Riyadh and Dammam to Chinese firms, as part of efforts to strengthen the Saudi-Chinese partnership in the housing and construction sectors.

The contracts are part of six agreements and MoUs between Saudi and Chinese entities and companies. Minister of Municipalities and Housing Majed Al-Hogail oversaw the signing of the agreements. 

These covered investment in the construction sector, localisation of modern building technologies, knowledge and expertise transfer, human-capital development, and support for public-private partnerships. 

They also included engineering design, financing solutions, project studies, and pricing services. These efforts are expected to improve implementation efficiency, accelerate project delivery, and enhance the quality of housing developments.

Among the deals, the Al-Ruba residential project in Riyadh was awarded to CACC. The project includes 2,010 housing units valued at SAR875 million. The Al-Rasha Al-Faisaliah project in Dammam was awarded to China State Corporation and comprises 2,426 housing units valued at SAR1.06 billion.

Deals signed so far this year exceed 19,000 units, bringing the total number of contracted housing units to more than 37,000.