Major Housing Initiative: Saudi NHC and Chinese Firm Collaborate to build 20,000 Residential Units in the Kingdom

Riyadh: The Saudi National Housing Co. and China Machinery Engineering Corp. have reached an agreement to construct 20,000 residential units in the Kingdom, which is expected to increase supply. NHC plans to build nine integrated residential areas and 300,000 units by 2025 to strengthen housing communities throughout the Kingdom. 

The agreement was formally concluded throughout the Housing Program's official visit to China, which was attended by Majid Al-Hogail, the Housing Program Committee Chairman and Minister of Municipal and Rural Affairs and Housing. This visit was conducted in support of the Housing Program's objectives, which is a component of the Kingdom's Vision 2030.   

Moreover, NHC and the CITIC Construction Group of China also signed an agreement last week to establish an industrial city and logistic zones for construction materials. Twelve factories will be included in the endeavour in order to secure supply chains for the housing developments of the Saudi company. 

Source: Arab News