"Municipality and Housing" and "Investment" sign a memorandum of understanding with the Spanish company Orbas

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It aims to support, promote and implement investments in the Kingdom

"Municipality and Housing" and "Investment" sign a memorandum of understanding with the Spanish company Orbas

The Ministry of Municipal, Rural Affairs and Housing, represented by the Agency for Stimulating Housing Supply and Real Estate Development and the Ministry of Investment, signed a memorandum of understanding with the Spanish company Orbas, with the aim of supporting and developing investment in the Kingdom of Saudi Arabia.

The memorandum of understanding was signed by the Undersecretary for Stimulating the Housing Supply, Development and Real Estate, Abd al-Rahman bin Abdullah al-Taweel, representing the Ministry of Municipal, Rural Affairs and Housing, while it was signed by the Saudi Ministry of Investment, the Undersecretary for Investment Development, Fahd bin Jamal al-Naim, while it was signed by the Spanish company Orbas, the executive director of the company, Adolfo Gore. see.

The memorandum aims to enhance mutual cooperation between the parties to support and develop investment in the Kingdom of Saudi Arabia in line with the national investment strategy, and unify efforts with the relevant authorities of each party, in order to raise the level of coordination and effective joint action in everything that supports and enhances the development, marketing and implementation of investments.

In turn, the Undersecretary of the Ministry of Municipal, Rural Affairs and Housing told the Agency to stimulate the supply of housing and real estate development, that the signing of the memorandum of understanding comes within the framework of the joint efforts made by the Ministry in cooperation with the Ministry of Investment to attract and encourage foreign investments in the housing sector in the Kingdom, adding that the Spanish company Orbas is one of the active international companies In the fields of real estate, infrastructure and renewable energy.

Al-Taweel explained that the Ministries of Municipal and Rural Affairs and Housing and Investment will work to support the investing company in terms of exploring opportunities, and benefiting from the available incentives through the initiatives offered by the authorities according to their competence, such as the National Incentives Committee, pointing out that the investor will also enjoy the support of the competent authorities regarding the work plan and feasibility. By providing available data that serve investment success.
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