RIYADH — Minister of Municipalities and Housing Majed Al-Hogail emphasised the important function of the municipal and housing sectors in bettering high quality of life and attracting funding within the Kingdom.
Attending a panel dialogue titled “When the federal government works to help companies,” on the 4th version of the Public Funding Fund (PIF) Personal Sector Discussion board, he highlighted the ministry’s 5 key pillars, specializing in enhancing city environments to enhance high quality of life, fostering a business-friendly local weather to draw funding, strengthening resilience by means of sustainability initiatives, and attaining strategic targets extra effectively.
Al-Hogail famous that the municipal sector is intently intertwined with the non-public sector, given its regulatory frameworks and operational requirements. He acknowledged that the ministry has allotted 12 out of 29 companies in main cities, representing 40 p.c of the focused 70 p.c, whereas emphasizing the significance of transparency in funding procedures and safeguarding the rights of all stakeholders throughout the municipal sector.
The minister highlighted the size of the sector, which oversees greater than seven million employees and over 970,000 institutions working throughout 2,450 professions. He confused that offering superior knowledge administration companies to the non-public sector stays a key precedence to make sure added worth and help future operations.
Referring to the housing sector, Al-Hogail defined that it has been totally privatized when it comes to improvement, worth chains, and financing. He highlighted the function of the Normal Authority for Actual Property in growing laws and regulatory frameworks, alongside the combination of digital options that improve flexibility and drive development in alignment with Saudi Imaginative and prescient 2030.
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He famous that the “Fursah” platform at the moment consists of greater than 180,000 buyers, with contracts exceeding SR13 billion and encompassing micro, small, and medium-sized enterprises. The ministry has additionally begun transitioning from conventional contracts to large-scale implementation contracts with strategic companions to make sure increased service high quality and optimum useful resource utilization.
The minister famous that greater than 190 park-related contracts have been signed throughout 2025, with a complete monetary influence exceeding SR1.5 billion, aimed toward bettering high quality of life and boosting funding. He identified that the idea of partnership within the municipal sector has developed into a various and complete mannequin, with the worth of direct funding alternatives within the non-developmental municipal sector anticipated to surpass SR130 billion by 2030.
Al-Hogail mentioned that funding alternatives exceed SR250 billion, together with contracts associated to engineering supervision, advertising and marketing, and contracting companies. He emphasised the variety of those alternatives, which span all enterprise classes from micro-enterprises to medium-sized firms and canopy a variety of companies. This, he mentioned, displays the depth of engagement with the non-public sector and the maturity of the Saudi market.
The minister additionally reviewed promising alternatives in rising fields akin to synthetic intelligence, expertise, knowledge, business, logistics, and tourism. He confused that whereas the federal government’s function facilities on regulation and planning, the non-public sector performs a important function in execution. He expressed optimism in regards to the Kingdom’s means to draw international funding and drive financial development in a brand new section of improvement.
