The modern Russian technology will be used in the construction of more than 850000 new homes in Saudi Arabia. Vladimir Putin, the president of Russia, signed several contracts on his visit to Saudi Arabia. The work on those contracts has been started in Saudi Arabia. Putin signed the documents of the strategic cooperation program between Russia and Saudi Arabia upon his visit to Saudi Arabia.
According to Saudi media, Putin also signed more than twenty other documents when he visited Saudi Arabia. Russia told its aim of providing the latest housing technology to Saudi Arabia at that time. The technology will help Saudi Arabia to cope with the housing crisis in the country. It will also leave a positive impact on the economic progress of Saudi Arabia.
Saudi Arabia is working on ‘Vision 2030’. The aim of Vision 2030 is to provide houses to Saudi citizens at competitive prices. The vision also aims to overcome the challenges in the way of the modernization of Saudi houses. These houses will have environmentally-friendly amenities. Saudi officials said that they were trying to the residential ownership ratio up to 70% by 2030.
Russia will provide technology to Saudi Arabia in 2020. A seventeen-story building can be built in less than one month by the use of this technology. Russia has successfully experimented with the technology in an area of 1 million square meters. Now Russia is providing this technology to Saudi Arabia.
According to the analysts, the relationship between Russia and China has become stronger after the meeting between Putin and Mohammad bin Salman, the Saudi Crown Prince. The strategic cooperation between Saudi Arabia and Russia has been improved after the meeting. The new housing technology will help Saudi Arabia to achieve its aim of Vision 2030. More than 850000 new houses will be built with the aid of the latest Russian technology.