Project Acquisition Support Team Dispatched to Saudi Arabia for Five Days
Full-scale Efforts to Secure $29 Billion New Town and $1.1 Billion High-Speed Rail Contracts
The Ministry of Land, Infrastructure and Transport has dispatched a project bidding support team, led by Minister Kim Yoonduk, to Saudi Arabia, the largest overseas construction market, in an effort to secure large-scale project contracts.
On November 16, the Ministry announced that Minister Kim would visit Saudi Arabia from the 15th to the 19th for a five-day, three-night schedule, carrying out support activities for project bids in various sectors including housing construction and high-speed rail.
This visit was arranged on the occasion of attending 'Cityscape Global 2025,' the world’s largest real estate exhibition, at the invitation of the Saudi Ministry of Municipal and Rural Affairs and Housing. Saudi Arabia is the top country for Korea’s overseas construction orders and is actively pursuing large-scale infrastructure projects in preparation for the 2030 World Expo and the 2034 World Cup.
Kim Yoonduk, Minister of Land, Infrastructure and Transport, held a meeting with Majed Al Hogail, Minister of Municipal and Rural Affairs and Housing of Saudi Arabia, on the 20th of last month at the National Land Development Exhibition Hall in Jung-gu, Seoul. The meeting was arranged at the suggestion of Minister Al Hogail regarding cooperation in the fields of smart cities and digital twins, which the Ministry of Land, Infrastructure and Transport is promoting. Ministry of Land, Infrastructure and Transport
On the 17th, at the opening ceremony of Cityscape Global, Minister Kim will present Korea’s achievements in housing supply and digital infrastructure innovation. Immediately after the opening ceremony, he will meet with Majed bin Abdullah Al Hogail, Minister of Municipal and Rural Affairs and Housing of Saudi Arabia, to support Korea’s bid for the Al Fursan New Town housing project, which is valued at approximately 20 billion dollars (about 29 trillion won).
Discussions on cooperation between Minister Kim and Minister Al Hogail were previously held during a meeting in Korea on the 20th of last month. At that time, both sides discussed expanding cooperation in the fields of smart cities and digital twins, as well as the possibility of participating in the development of the Riyadh New Town.
Saudi Arabia is pursuing large-scale new city projects, known as 'giga projects,' such as Qiddiya (120,000 units, 32 billion dollars) and Diriyah (20,000 units, 6.3 billion dollars), with the goal of achieving a 70% housing supply rate by 2030. The Ministry plans to actively support the export of Korea’s residential space technologies by highlighting the unique strengths of 'K-Apartments,' including smart construction technology, community facilities, and underground parking lots.
The bidding support team is also working to secure contracts in the advanced transportation infrastructure sector. Minister Kim will meet with the CEO of the Royal Commission for Riyadh City to discuss cooperation on the high-speed rail and metro projects between Riyadh and Qiddiya. At this meeting, he plans to actively explain Korea’s proven technological capabilities demonstrated in the Riyadh Metro project, as well as its experience in building the Great Train Express (GTX) in the Seoul metropolitan area. In addition, he will meet with Saleh bin Nasser Al-Jasser, Minister of Transport and Logistics, to support Korea’s bid for the supply of rolling stock for the Haramain High-Speed Railway, a project estimated at around 1.1 trillion won.
In addition to high-level meetings, the project bidding support team will also conduct on-site support activities, including direct visits to major project sites such as Diriyah and Qiddiya, and holding meetings with Korean companies operating locally.
Minister Kim stated, "Saudi Arabia is a country where a variety of advanced technology projects, including artificial intelligence (AI) and digital automation, are being promoted, making it an excellent market to showcase our technologies. We will support Korean companies to actively participate in sustainable overseas city construction projects that consider quality of life and the environment, moving beyond the traditional focus on oil and chemical plants."
