NHC Joins Forces With CSCEC To Build 20,000 Housing Units In Saudi Arabia

The National Housing Company (NHC) has signed an agreement with China State Construction Engineering Corporation (CSCEC) to build 20,000 housing units in Saudi Arabia. The signing ceremony was attended by the Minister of Municipal and Rural Affairs and Housing, Majid bin Abdullah Al-Hogail. CEO Mohammed bin Saleh Al-Buty represented NHC, while Gao Yu Chun, President for the Middle East and Africa Region, represented CSCEC.

NHC stated that this partnership is part of its strategy to develop high-quality projects with leading global contracting companies. The company aims to construct housing units of various sizes and designs equipped with health, educational, commercial, and public service facilities. This initiative is expected to enhance the quality of life for residents.

The agreement is an extension of the Saudi-Chinese partnership. Recently, during Minister Al-Hogail's official visit to China, several agreements were signed. These include establishing an industrial and logistics city for building materials with CSCEC to secure supply chains for NHC's suburbs and communities.

NHC aims to deliver more than 300,000 housing units by 2025, with a total value exceeding a quarter of a trillion riyals. These units will be available to all segments of society. This aligns with Saudi Vision 2030's goal of raising the homeownership rate for Saudi families to 70%.

Additionally, an agreement was signed with China Machinery Engineering Corporation (CMEC) to build another 20,000 housing units in various regions of the Kingdom. These partnerships are expected to significantly contribute to the development of the real estate sector in Saudi Arabia.

High-Quality Living Spaces

The National Housing Company is a pioneer in real estate development and the largest primary developer of suburbs and urban communities in Saudi Arabia. NHC is dedicated to creating high-quality living spaces that meet global standards.

NHC highlighted that this agreement is part of its effort to increase real estate supply through strategic partnerships with major global companies. The goal is to establish high-quality housing projects across various regions of the Kingdom.

"This partnership will help us achieve our goal of providing high-quality housing options," said a spokesperson from NHC. "We are committed to working with leading global companies to ensure our projects meet international standards."

These initiatives reflect NHC's commitment to enhancing the real estate sector in Saudi Arabia by developing sustainable and high-quality residential projects that cater to diverse needs.

With inputs from SPA