Saudi Arabia Signs Deal with Chinese Construction Giant to Build 20,000 Homes
Saudi Arabia: Saudi Arabia's National Housing Company (NHC) has signed an agreement with China State Construction Engineering Corporation (CSCEC) to build 20,000 housing units across multiple regions. This project includes various sizes and designs equipped with health, educational, commercial, and public service facilities. The agreement, witnessed by the Minister of Municipal and Rural Affairs and Housing, Majid bin Abdullah Al Hogail, is part of NHC's strategy to increase real estate supply through global partnerships. NHC aims to deliver over 300,000 housing units by 2025, valued at more than a quarter of a trillion riyals. This deal extends the Saudi - Chinese partnership, following recent agreements to establish an industrial and logistics city for building materials and another to construct an additional 20,000 units with China Machinery Engineering Corporation (CMEC).
Source: Gulf News