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CGGC International Signed the AI Kamis Garden Housing Project in Saudi Arabia
Date:2021-02-15 VisitCount: Font size:[ L M S ]

At the beginning of the new year, CGGC International and Saudi real estate developer Safwa signed a contract worth USD 100 million for the spot exchange project of the Kamis garden housing in the coastal city of Jeddah, Saudi Arabia, marking a new breakthrough in Saudi Arabia's housing construction market and laying a solid foundation for further expanding the real estate construction market in Saudi Arabia and even in the Middle East. Liu Huailiang, General Manager and Deputy Party Secretary of the Company, witnessed the signing of the contract. The Head of Saudi Arabia Branch signed the project contract with the General Manager of Safwa.

The Project is part of Saudi Arabia's "Vision 2030" major livelihood project of building 1.5 million apartments. The Project is located in the city of Khamis City, Abha Province, in the southwest of Saudi Arabia, and involves the construction of 47 apartment buildings and supporting infrastructure, which can provide thousands of apartments.

The signing of the Project is an important achievement made by the Company's overseas institution to expand the high-end market in the Middle East, actively expand non-electric business and promote the rapid development of housing construction under the guidance of CGGC. In 2021, the Company will further optimize the overseas business layout, vigorously promote the development of non-electric business, expand strategic cooperation resources, promote and strengthen the international business increment, and accelerate the high-quality development of international business, so as to generate a good situation for the development of the "14th Five-Year Plan".

The signing ceremony was attended by Xin Zongyi, Deputy General Manager of the Company, Assistant to General Manager Tai Nenglun, and relevant personnel of the Eurasia Branch and Saudi Arabia Branch.

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