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NHC Targets Over 300,000 Housing Units by 2025

Riyadh: The National Housing Company (NHC) has inked a significant deal with China State Construction Engineering Corporation (CSCEC), witnessed by the Minister of Municipal and Rural Affairs and Housing, Majid bin Abdullah Al Hogail.

This strategic agreement focuses on the construction of 20,000 diverse housing units, featuring health, educational, commercial, and public service facilities. These units will be distributed across NHC-developed suburbs and communities in various regions of Saudi Arabia.

NHC emphasized that this partnership is integral to their strategy of enhancing real estate supply by collaborating with leading global companies. By 2025, NHC aims to deliver over 300,000 housing units, valued at more than a quarter of a trillion riyals, accessible to all societal segments.

This agreement further strengthens the Saudi-Chinese partnership, following a series of deals signed during Minister Al Hogail's recent visit to China. These include an agreement with CSCEC to establish an industrial and logistics city for building materials, ensuring secure supply chains for NHC's projects.

Additionally, NHC has partnered with China Machinery Engineering Corporation (CMEC) for the construction of another 20,000 housing units. These collaborations are poised to significantly boost the development of Saudi Arabia's real estate sector.