RIYADH: Saudi Arabia is set to exhibit its accomplishments in diverse urbanization initiatives during its participation in the inaugural housing conference in Oman.
Represented by the Ministry of Municipal and Rural Affairs, the Kingdom will present several success stories across multiple urban sectors, with a notable focus on the economic impact of urban renewal in historic cities, the Saudi Press Agency reported.
The conference, scheduled to run from Oct. 29 to 31, will also explore the roles of developmental and cooperative housing associations in providing homes for citizens. Additionally, it will address issues related to developmental housing and the promotion of sustainability within the sector.
The conference, taking place in Muscat, will revolve around the theme “Resilience of the Urban Economy” and is aligned with the UN’s “Urban October” initiative, which aims to review the most prominent contemporary research in the urban sector.
UN-Habitat, in collaboration with the Saudi Public Investment Fund, has launched initiatives aimed at urban regeneration in central Riyadh City. This partnership is focused on creating an engagement plan for local citizens, according to a report by UN-Habitat.
Madinah Development Authority has also partnered with the UN body to provide supporting measures for developing the region’s local urban observatory.
In line with the Kingdom’s Vision 2030 strategy, which aims to offer affordable and adequate housing opportunities for Saudi families, Minister of Municipal and Rural Affairs Majid Al-Hogail met with Chinese investors in August to explore development opportunities in infrastructure projects within the municipal and housing sectors.
Discussions revolved around Saudi Arabia’s housing plans and programs, which include housing schemes and enhancements to improve sector quality.
In yet another development, Saudi Arabia’s Real Estate Development Fund also announced that it deposited SR941 million ($250.8 million) in the accounts of Sakani beneficiaries for the month of August.
The initiative, coordinated by the REDF in collaboration with the Ministry of Municipal, Rural and Housing, underscores the fund’s commitment to supporting Sakani beneficiaries.
The conference, featuring over 22 discussion sessions with the participation of more than 2,000 experts and specialists, aims to promote a culture of sustainable urban planning. The ultimate goal is to create a dynamic urban economy that can adapt effectively and efficiently to life’s evolving needs, as reported by the SPA.