Riyadh, September 24, 2023 – The National Housing Co. (NHC) in Saudi Arabia has achieved a significant milestone in promoting first-time homeownership, announcing the successful delivery of over 30,000 residential units by September 2023 in collaboration with property developers.
This announcement, made in conjunction with the celebration of the 93rd Saudi National Day, underlines NHC’s commitment to providing modern housing options to over 300,000 individuals by 2025. The initiative aligns with the company’s mission to expedite the process of first-time homeownership by offering diverse housing choices and high-quality projects, thereby contributing significantly to the real estate supply development in the Kingdom.
In a press statement, NHC revealed that these residential units have been distributed across 11 cities in Saudi Arabia, including Riyadh, Jeddah, Makkah, and Al-Ahsa. The units are also available in Dammam, Qatif, Alkhobar, Khamis Mushayt, Taif, Yanbu, and Madinah.
The company further emphasized its commitment to future projects currently under construction, offering competitive pricing while upholding the highest standards of quality and sustainability in residential environments designed to enhance residents’ quality of life.
These projects are designed to integrate essential services, green spaces, vital facilities, and pedestrian pathways to ensure convenient and secure access to all amenities, promoting social and environmental sustainability while encouraging a healthy lifestyle for Saudi families. These endeavors are being conducted in partnership with the Real Estate Development Fund and financing agencies from the private sector.
Established in 2016, NHC aspires to become a leading player in the real estate development sector and to foster strategic partnerships between the public and private sectors. The company is dedicated to delivering high-quality projects in urban communities, featuring modern designs and a range of affordable housing solutions. This commitment aligns with the aspirations of future generations and aims to enhance their quality of life, all while collaborating with experienced and efficient real estate developers.
One of the key initiatives of Saudi Vision 2030, the housing program seeks to increase the proportion of Saudi households owning a house from 47 percent in 2016 to 70 percent by 2030, in line with the broader goals of socioeconomic development and growth in the Kingdom.
