Riyadh, January 24, 2023, SPA — Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail, today at the Riyadh Front Exhibition and Convention Center, launched the 2nd Municipal Investment Forum “FURAS” in the presence of several ministers and senior officials. The forum will continue until January 26.
Al-Hogail announced the issuance of the royal approval to adopt the Municipal Investment Portal “FURAS” (opportunities) as a unified national portal to submit real estate investment opportunities to government agencies, under the name of ” Investment Portal in Saudi Cities-FURAS”, in addition to cooperation and integration with “Invest in Saudi” platform, noting that FURAS was launched today as a national platform.
During the opening speech, he explained that municipal investments contribute to achieving the goals of the Kingdom Vision 2030 by developing the quality of city services, improving the urban landscape and developing and diversifying recreational opportunities. Municipal investments also provide state-owned assets to the private sector, develop other sector activities, and increase the contributions of small and medium enterprises.
He noted that municipal investments are related to five of the vision’s programs (allocation, housing, quality of life, serving pilgrims and Umrah performers, financial sustainability), adding that that municipal investment improves the investment system in three key aspects: the legislative aspect to raise the maturity of investment, the aspect of developing supportive products, and the procedural and marketing aspect.
Meanwhile, Qatar participates as a guest state in the forum to review the experience of the Ministry of Municipality and its successful participation in organizing the FIFA World Cup Qatar 2022, the role of the private sector and investment opportunities in the development of cities, infrastructure, and the quality of life of the population.
20:04 LOCAL TIME 17:04 GMT