RIYADH: The Saudi Ministry of Housing has signed three residential real estate development agreements worth $4.4 billion, the Saudi Arabian General Investment Authority (SAGIA) announced on Thursday on the sides of the Future Investment Initiative in Riyadh.
One of the deals was a $2.6 billion memorandum signed between China’s PowerChina International Group, the Saudi Ministry of Housing, and National Housing Company, which aims to build 17,000 homes over the next six years in the Al-Asfar project.
The second contract was between US-based Katerra, a construction-tech startup owned by Japan’s SoftBank, and the Eskan Program to improve the speed and efficiency of construction methods in the Kingdom.
The last deal was concluded with SANY-Alameriah, a Chinese-Saudi partnership, and the Sakani program worth $1.2 billion, for the “Telal Alghoroob” project in Jeddah, where it aims to provide more than 6,500 apartments.
The two other phases in Dammam will provide 1,632 villas and 1,514 apartments.
The chairman of Sany-Alameriah, Bandar bin Mohammed Al-Ameri, said that the implementation would begin on Nov. 1, and the delivery of the first phase of housing units would be during 2020.
Mr. Hejing Gao, general manager of Sany-Alameriah, said: “The high demand for housing in Saudi Arabia and the government’s direction to initiate partnerships with the private sector and stimulate foreign investment have created an attractive environment for investment in this sector.
“We look forward to initiating the partnership we have agreed with the Ministry of Housing to build thousands of housing units.”
Saudi Housing Ministry signs residential real estate deals worth $4.4bn on FII sidelines
Saudi Housing Ministry signs residential real estate deals worth $4.4bn on FII sidelines
Board of Grievances unveils judicial intelligence hackathon to foster innovation
- Registration opens on Sunday, Dec. 28, 2025, and continues through Jan. 20, 2026
RIYADH: Saudi Arabia’s Board of Grievances has opened registration for the Judicial Intelligence Hackathon, the institution’s first competition seeking sustainable solutions that harness cutting-edge technology to improve the efficiency of judicial procedures, the Saudi Press Agency reported.
Registration opens on Sunday, Dec. 28, 2025, and continues through Jan. 20, 2026, as part of efforts to cultivate talent and promote innovation in digital transformation and artificial intelligence in the judicial sector.
The board is calling on industry experts, experienced professionals, and university students to form teams of three to five members. Each team must be led by a Saudi citizen or academic staff member at least 18 years old.
Participants register via a dedicated portal on the board’s digital platform and must submit a preliminary proposal demonstrating practical and legal viability, incorporating advanced technology with appropriate quality standards, and showing innovation relevant to the board's operations with transformative impact and long-term sustainability.
Competition unfolds in two distinct tracks. The first addresses AI applications and creative solutions for administrative justice, tackling challenges such as minimizing procedural errors and offenses during virtual court proceedings and streamlining lawsuit filing classifications.
The second track emphasizes digital innovation enhancing user journeys, focusing on simplifying document submission processes when initiating lawsuits and developing accessibility solutions enabling seniors and people with disabilities to navigate board services more effectively.
Finalists are scheduled to be announced on Jan. 23, 2026, followed by virtual project discussion and presentation sessions on Jan. 28.
According to the SPA, this methodology for sourcing innovative concepts underscores the dedication of the board’s leadership to advance performance across judicial chambers and administrative divisions while pursuing strategic goals of refining administrative court litigation processes, expediting case resolutions, and establishing competitive leadership in the judicial arena.
