The Minister of Municipal and Rural Affairs and Housing, Majid bin Abdullah Al-Hogail, discussed a number of investment opportunities with entrepreneurs in the fields of innovation and information technology, in cooperation with studios for building pioneering companies and venture capital funds, with the aim of adopting modern technologies and employing them in the municipal and residential sectors to improve the services provided in Saudi cities and improve The urban landscape and an increase in the proportion of housing ownership by Saudi families to 70% by 2030, according to the objectives of the Housing Program – one of the programs of the Kingdom’s Vision 2030.
He explained, during his meeting with companies and entrepreneurs, that the ministry seeks to employ modern digital technologies and systems in a way that contributes to improving services provided to citizens and enhancing standards of quality of life in cities, pointing out that the municipal and residential sectors abound with many investment opportunities, and that the ministry owns a database and information in the municipal sectors. And housing can be used to find investment opportunities.
The meeting, which was attended by the appointed Governor of the Real Estate General Authority, Tariq Al-Hafzy, and a number of ministry leaders, witnessed a number of proposals and ideas from start-ups and entrepreneurs to develop government business, including oversight and citizen services, to enhance regulatory performance and compliance behavior and accelerate work and achievement. His Excellency stressed the role of the private sector in the development of various government sectors to serve the objectives of the Kingdom’s Vision 2030, and contribute to increasing the participation of the private sector in the domestic product.