Turkish real estate company Emlak Konut to take part in Saudi Arabia’s Vision 2030
Turkish delegation led by urbanization minister Murat Kurum (R) and other Saudi officials pose for a photo after signing the good-will agreement during the COP16 conference in Riyadh, Saudi Arabia, Dec. 2, 2024. (Photo via X/@murat_kurum)
State real estate investment companies from Türkiye and Saudi Arabia—Emlak Konut GYO and the National Housing Company—signed a goodwill agreement aimed at integrating Turkish expertise into Vision 2030 project investments in Saudi Arabia.
The agreement was formalized during the U.N. Convention to Combat Desertification’s (UNCCD) COP16 Conference of Parties in Riyadh, Saudi Arabia, on Monday, Dec. 2.
The signing took place under the coordination of Türkiye’s Minister of Environment, Urbanization and Climate Change, Murat Kurum and Saudi Arabia’s Minister of Municipal, Rural Affairs and Housing, Majed bin Abdullah al-Hogail.
Kurum announced that Emlak Konut’s “Revenue Sharing Model” would be introduced to the Saudi Arabian market, describing it as a strategic initiative for achieving the goals of Vision 2030.
Kurum emphasized that Emlak Konut, with its knowledge base, technological infrastructure, and focus on sustainability, is well-positioned to contribute significantly to Saudi Arabia’s urbanization ambitions.
‘Türkiye exceptionally strong in engineering’
Meanwhile, Saudi Minister Majed bin Abdullah al-Hogail highlighted the historical importance of Turkish firms entering the Saudi market, underscoring Emlak Konut’s experience and capabilities.
“We want to create a success story here,” al-Hogail remarked. “Our aim is to improve the quality of life for our citizens. Türkiye is exceptionally strong in engineering, and we are eager to benefit from its expertise,” he added.
