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Saudi Arabia and Bahrain discuss real estate collaboration

Article-Saudi Arabia and Bahrain discuss real estate collaboration

Saudi Press Agency PIF and Bahrain Mumtalakat Sign MoU to Promote Cooperation and Investment in Strategic Sectors
PIF and Bahrain Mumtalakat Sign MoU to Promote Cooperation and Investment in Strategic Sectors (Photo credits: Saudi Press Agency)
Saudi Arabia and Bahrain discuss a collaboration for real estate and economic growth, focusing on smart cities and private sector partnerships.

During the Bahrain Smart Cities Summit 2024 in Manama, Saudi Arabia and Bahrain discussed a collaboration on social housing and urban planning. Engineer Fahad Al-Mutlaq, Saudi Deputy Minister for Urban Planning and Lands, and Minister of Housing and Urban Planning Amna Al-Rumaih led the discussions. They explored ways to collaborate and improve housing and urban development strategies.


The meeting explored forming a joint technical committee to develop planning solutions for residential neighbourhoods. Both countries aim to exchange expertise and experiences to enhance cooperation.


The Saudi Press Agency reported discussions about smart cities, focusing on current trends. These talks highlighted sustainable government projects, national tree-planting plans, and the use of artificial intelligence and the Internet of Things in city infrastructure.


The sovereign wealth funds of Saudi Arabia and Bahrain have signed a cooperation and investment agreement. This agreement looks to boost growth in both countries' private sectors. The Saudi Public Investment Fund and Bahrain Mumtalakat Holding Co. aim to create new financing opportunities in Bahrain.


The agreement benefits both countries' private sectors. It boosts the Saudi sovereign wealth fund's presence in Bahrain and builds strategic partnerships. The cooperation also aligns with Bahrain Mumtalakat Holding Co's efforts. These efforts focus on investing in promising economic sectors. They also contribute to the Bahrain Vision 2030 goals.

Bahrain News AgencyHousing Minister with Saudi Deputy Minister for urban planning and land discuss collaboration

Bahrain News Agency)


The agreement highlights the close ties between the two Kingdoms. Its goal is to boost cooperation between Mumtalakat and PIF. In doing so, it opens up opportunities for the private sector to help diversify the economy.


The collaboration aims to create good jobs and help the national economy grow. It also supports Bahrain's vision for economic growth by investing in important sectors. This helps achieve long-term goals.

In conclusion, Saudi Arabia and Bahrain's discussions pave the way for enhanced cooperation in social housing, urban planning, and economic development. This benefits both nations' private sectors and will contribute to sustainable growth.

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