Turkish firms to build two million Saudi homesby Paromita Dey on Jan 13, 2016
The ministry will soon issue a statement in this regard explaining all the details.
The Saudi Ministry of Housing is currently in talks with a number of Turkish companies to build approximately two million residential units in the country.
Turkish sources told Arab News that the talks have made significant progress in forming a consortium of the construction firms in Turkey to implement the project, which could be worth around $240bn.
Mohammed Al-Dugailbi, spokesman for the Ministry of Housing, said that the ministry will soon issue a statement in this regard explaining all the details.
Meanwhile, some Turkish sources commented during recent meetings, saying "these negotiations were partially completed during the visit of President Recep Tayyip Erdogan to Saudi Arabia at the end of December."
Foreign Minister Adel Al-Jubeir announced earlier the intention to form a Saudi-Turkish strategic cooperation council between the two countries on the sidelines of the visit of the Turkish president.
"The council will focus on security, military, political, economic, commercial, investment and energy issues," said the minister in a joint press conference with his Turkish counterpart.