Saudi, US housing ministers discuss cooperation in urban planning, property finance
VIRGINIA — Minister of Municipalities and Housing Majed Al-Hogail discussed with US Secretary of Housing and Urban Development Scott Turner expanding bilateral cooperation between Saudi Arabia and the United States in housing, urban planning, and real estate finance. The meeting was held on the side
VIRGINIA — Minister of Municipalities and Housing Majed Al-Hogail discussed with US Secretary of Housing and Urban Development Scott Turner expanding bilateral cooperation between Saudi Arabia and the United States in housing, urban planning, and real estate finance. The meeting was held on the sidelines of the Ginnie Mae 2026 Global Investor Summit on Financing Affordable Housing in Virginia, the United States. The ministers reviewed ways to leverage regulatory and operational expertise to boost housing supply and incentivize private-sector investment, alongside developing real estate finance instruments and enhancing integration between housing authorities and financial institutions to improve market efficiency and broaden homeownership options for families.The meeting also addressed establishing an institutional framework for technical cooperation, expertise exchange, and reciprocal visits to facilitate knowledge transfer and foster new partnerships between Saudi and American institutions in advancing housing and financial solutions.Addressing the summit, Al-Hogail said that Saudi Arabia is actively developing its housing finance sector and linking real estate lending to long-term capital markets to bolster market sustainability and broaden affordable housing options. “The Saudi Real Estate Refinance Company (SRC) aims to refinance more than $40 billion by 2030. The initiative opens significant avenues for international investors to participate in Saudi fixed-income instruments and real estate securities, while fostering collaboration in securitisation, guarantees, data management, and modern credit risk technologies,” he said. The minister emphasized that the Kingdom offers a robust market underpinned by sustained, long-term housing demand. He noted that financing, guarantee, and servicing tools are being developed within a transparent regulatory framework supervised by the Saudi Central Bank (SAMA) and the Capital Market Authority (CMA). He urged global investors to partner in building a market that serves families while generating sustainable returns.