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In the presence of a number of their Highnesses and Excellencies, ministers, princes of regions and provinces, and senior officials, His Excellency the Minister of Municipalities & Housing, Mr. Majid bin Abdullah Al-Hogail, inaugurated today the Municipal Investment Forum, “Foras”, in its second edition, which will last until Thursday, January 26, 2023, in the facade of Riyadh. For exhibitions and conferences.
His Excellency the Minister of Municipalities & Housing, Mr. Majid bin Abdullah Al-Hogail, announced the issuance of the kind approval to approve the municipal investment portal “Foras”, to be a unified national portal for offering real estate investment opportunities to government agencies, under the name: (Investment Portal in Saudi Cities - Opportunities). In addition to cooperation and integration with the Invest in Saudi Arabia platform, indicating that today (Foras) was launched as a national platform.
Al-Hogail explained, during the opening speech, that municipal investments contribute to achieving the goals of the Kingdom's Vision 2030 by improving the quality of city services, improving the urban landscape, developing and diversifying recreational opportunities, and municipal investments allow state-owned assets for the private sector, developing the activities of other sectors, and increasing the contributions of establishments. small and medium.
He added, "Municipal investments are related to 5 of the Vision's programs, which are (privatization, housing, quality of life, serving the guests of Rahman, financial sustainability), and that municipal investment improves the investment system in 3 main axes (legislative axis to raise investment maturity, axis of development supporting products, procedural and marketing axis).
Al-Hogail stressed that the ministry worked to fully automate the procedures and the investor’s journey, starting from presenting the opportunity to purchasing the brochure and submitting bids, through the formation of the committees held to awarding the opportunity, signing the contract and handing over the site through a unified platform, indicating that a regulation for the disposal of municipal real estate was issued, to be the framework The regulation also allows for the temporary leasing of real estate, where the investor can rent public parks or squares to hold events or events for a period of up to 3 months.
The Ministry is working on developing a number of products continuously with the secretariats and municipalities, the most prominent of which is "Working with government funding funds, partnership with the private sector", and the Ministry is working to allocate 70% of municipal services by 2030.
On the sidelines of the ceremony, His Excellency the Minister of Municipalities & Housing signed 3 agreements, the first is the signing of the executive program for bilateral cooperation between the ministry and the Ministry of Land, Infrastructure, and Transport of the Republic of South Korea, and the second is the agreement on controls for linking between the investment portal in Saudi cities, Foras and the invest in Saudi portal with the Ministry of Investment, and the third An agreement to use the investment portal in Saudi cities is an opportunity for opportunities offered by the Ministry of Transport and Logistics.
The forum includes offering more than 5,000 investment opportunities, suitable for all segments of investors, including entrepreneurs, owners of small and medium enterprises, and large investors in various economic activities in all Saudi cities.
The forum also includes the organization of an accompanying exhibition that brings together more than 60 entities, including opportunity owners, enabling financing entities, organizing and supporting government agencies, and a number of pioneering programs and projects. It also includes many accompanying events, represented in more than 25 dialogue sessions, and more than 50 specialized workshops discussing issues related to raising the attractiveness of investment in cities, in which more than 100 speakers from officials, experts and specialists speak.
On the other hand, the State of Qatar participates as the "guest country" in the forum, as it reviews the experience of the Ministry of Municipality and its successful participation in organizing the World Cup, the role of the private sector and investment opportunities in developing cities, infrastructure and the quality of life of the population.
The forum aims to raise the attractiveness of investment in Saudi cities, stimulate local investments and attract foreign investments that will reflect on raising the private sector’s contribution to the development of cities and the development of domestic product, and contribute to enabling sectoral and regional strategies, and introduce municipal investment mechanisms.
His Excellency the Minister of Municipalities & Housing, Mr. Majid bin Abdullah Al-Hogail, announced the issuance of the kind approval to approve the municipal investment portal “Foras”, to be a unified national portal for offering real estate investment opportunities to government agencies, under the name: (Investment Portal in Saudi Cities - Opportunities). In addition to cooperation and integration with the Invest in Saudi Arabia platform, indicating that today (Foras) was launched as a national platform.
Al-Hogail explained, during the opening speech, that municipal investments contribute to achieving the goals of the Kingdom's Vision 2030 by improving the quality of city services, improving the urban landscape, developing and diversifying recreational opportunities, and municipal investments allow state-owned assets for the private sector, developing the activities of other sectors, and increasing the contributions of establishments. small and medium.
He added, "Municipal investments are related to 5 of the Vision's programs, which are (privatization, housing, quality of life, serving the guests of Rahman, financial sustainability), and that municipal investment improves the investment system in 3 main axes (legislative axis to raise investment maturity, axis of development supporting products, procedural and marketing axis).
Al-Hogail stressed that the ministry worked to fully automate the procedures and the investor’s journey, starting from presenting the opportunity to purchasing the brochure and submitting bids, through the formation of the committees held to awarding the opportunity, signing the contract and handing over the site through a unified platform, indicating that a regulation for the disposal of municipal real estate was issued, to be the framework The regulation also allows for the temporary leasing of real estate, where the investor can rent public parks or squares to hold events or events for a period of up to 3 months.
The Ministry is working on developing a number of products continuously with the secretariats and municipalities, the most prominent of which is "Working with government funding funds, partnership with the private sector", and the Ministry is working to allocate 70% of municipal services by 2030.
On the sidelines of the ceremony, His Excellency the Minister of Municipalities & Housing signed 3 agreements, the first is the signing of the executive program for bilateral cooperation between the ministry and the Ministry of Land, Infrastructure, and Transport of the Republic of South Korea, and the second is the agreement on controls for linking between the investment portal in Saudi cities, Foras and the invest in Saudi portal with the Ministry of Investment, and the third An agreement to use the investment portal in Saudi cities is an opportunity for opportunities offered by the Ministry of Transport and Logistics.
The forum includes offering more than 5,000 investment opportunities, suitable for all segments of investors, including entrepreneurs, owners of small and medium enterprises, and large investors in various economic activities in all Saudi cities.
The forum also includes the organization of an accompanying exhibition that brings together more than 60 entities, including opportunity owners, enabling financing entities, organizing and supporting government agencies, and a number of pioneering programs and projects. It also includes many accompanying events, represented in more than 25 dialogue sessions, and more than 50 specialized workshops discussing issues related to raising the attractiveness of investment in cities, in which more than 100 speakers from officials, experts and specialists speak.
On the other hand, the State of Qatar participates as the "guest country" in the forum, as it reviews the experience of the Ministry of Municipality and its successful participation in organizing the World Cup, the role of the private sector and investment opportunities in developing cities, infrastructure and the quality of life of the population.
The forum aims to raise the attractiveness of investment in Saudi cities, stimulate local investments and attract foreign investments that will reflect on raising the private sector’s contribution to the development of cities and the development of domestic product, and contribute to enabling sectoral and regional strategies, and introduce municipal investment mechanisms.
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