NHC Named Largest Real Estate Developer In GCC By Construction Week Middle East

The National Housing Company (NHC) has been acknowledged as the largest real estate developer in the Gulf Cooperation Council (GCC) countries for 2024 by Construction Week Middle East magazine. This accolade is based on NHC's significant achievements in the first half of this year, with sales surpassing SAR13 billion.

NHC's leading position in the real estate sector is attributed to its transformative role in developing smart and sustainable suburbs and communities across the Kingdom. These projects integrate urban development with quality-of-life elements, green spaces, recreational facilities, and essential services.

In collaboration with other developers, NHC is currently executing over 130 projects throughout Saudi Arabia. The company's data reveals that sales from ongoing projects in the first half of this year have quadrupled compared to the same period last year.

NHC aims to introduce more than 300,000 housing units to the Saudi market by the end of 2025. The company is also focused on providing high-quality supply chain solutions and promoting sustainable building materials.

The report from Construction Week Middle East ranks the top 50 real estate developers in the GCC based on various criteria unique to each company. NHC's recognition underscores its commitment to increasing housing supply with residential options that meet global standards.

Commitment to Vision 2030

This recognition aligns with Saudi Vision 2030, which aims to elevate the homeownership rate for Saudi families to 70%. NHC's efforts are pivotal in reshaping the urban landscape of Saudi Arabia through innovative and sustainable development practices.

NHC stands as a prominent enabler in the real estate development sector and serves as a master developer of suburbs and urban communities within the Kingdom. The company is currently developing nine suburbs and six residential communities over an area exceeding 100 million square meters.

The company's dedication to enhancing housing supply reflects its strategic alignment with national goals and its role in fostering sustainable urban growth. This achievement highlights NHC's pivotal role in driving forward Saudi Arabia's real estate sector.

As NHC continues to expand its portfolio, it remains committed to delivering high-quality residential options that cater to diverse needs while adhering to international standards. This approach ensures that NHC remains at the forefront of real estate development within the GCC region.

With inputs from SPA