S. Arabia’s NHC, China’s CMEC to build 20K housing units

Real EstateFeaturedInternational News
By Nada Ali

Saudi Arabia’s National Housing Company (NHC) has partnered with China Machinery Engineering Corporation (CMEC) to build 20,000 new housing units in NHC’s suburban and residential communities in Saudi Arabia, SPA reported on Sunday.

These communities are known for offering a comprehensive range of integrated facilities and services, including healthcare, education, commercial options, and other public amenities.

NHC emphasises that this partnership aligns with the goals of Saudi Arabia’s Vision 2030, specifically the Housing Program. The agreement signifies NHC’s commitment to:

  • Strategic Partnerships: Collaborating with leading global construction companies.
  • Foreign Investment: Attracting international investment in the Saudi real estate sector.
  • High-Quality Housing: Delivering integrated housing projects built to the highest standards.
  • Affordability: Ensuring reasonable pricing for these new units.
  • Sustainability: Prioritising sustainable development practices in housing projects across the Kingdom.

The company aims to develop nine integrated residential suburbs and deliver 300,000 new housing units by the end of 2025.

These initiatives contribute to the programme’s overall objective of increasing homeownership rates for Saudi families to 70 per cent.

 

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