Saudi Arabia’s National Housing Company at the forefront of construction activity
Saudi Arabia’s real estate sector is
undergoing a major transformation, with the National Housing Company (NHC)
leading the charge as the country’s largest real estate developer and key
public-sector partner under Vision 2030.
Speaking at the “Capitals London”
event alongside the Cityscape Global Exhibition, NHC CEO Mohammed Albuty
underscored the company’s central role in achieving a homeownership rate of
65%—a target met one year ahead of schedule. NHC now aims to raise this figure
to 70% by 2030.
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Albuty noted that over 600,000
residential units are being developed, with half scheduled for completion by
the end of 2025. The company is currently overseeing 39 major projects across
17 cities, with total investments exceeding $154 billion. More than 100,000
homes have already been sold through off-plan sales, and NHC manages a national
land bank covering over 284 million square meters.
A core element of NHC’s strategy,
Albuty added, is improving quality of life through sustainable urban planning.
This includes reducing commute times, integrating green spaces, promoting
healthier lifestyles, and fostering socially cohesive communities.
Sustainability is embedded throughout—from initial planning and material
selection to long-term community management.
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NHC has also drawn more than $10
billion in direct foreign investment through strategic partnerships with
leading global developers. Key collaborators include K. Hovnanian (US), Urbas
(Spain), TMG (Egypt), CITIC Group (China), Emlak Konut (Turkey), and Kooheji
(Bahrain). These alliances span residential development, industrial support,
logistics, and supply chain enhancement—bolstering local content and economic
resilience.
Albuty concluded by affirming
growing global investor confidence in Saudi Arabia’s real estate market. He
reiterated NHC’s commitment to shaping integrated, future-ready cities aligned
with the goals of Vision 2030.
Source: Yahoo Finance
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