Sponsored: The real estate giant receives a license to sell the largest real estate development project in Riyadh with the off-plan sales system…

Saudi Arabia has made remarkable progress in transforming its housing sector over the past few years. Moreover, support from the National Housing Company (NHC) plays a crucial role in the sector’s growth.

The NHC, founded in 2016, is a Riyadh-headquartered real estate development giant, which seeks to provide various affordable housing options via urban communities to meet the aspirations of the current and future generations.

Operating as the investment arm of the Ministry of Municipal, Rural Affairs and Housing, the company has contributed to the advancement of the country’s real estate sector by increasing housing supply, enhancing the capabilities of property developers and service providers, and providing investment options to owners.

NHC – Dahiyat Al-Fursan

As part of its portfolio of projects in the capital, the company signed an agreement to finance and develop a new landmark city located 35 kilometres northeast of Riyadh called Dahiyat Al-Fursan, which is already underway.

Covering an area of 35 million square meters, the development includes the construction of 100,000 houses and infrastructure works for apartments, townhouses, education buildings, commercial buildings, and research and development centres.

Dahiyat Al-Fursan is one of the largest residential suburbs being developed by NHC in the Kingdom. It has integrated services and facilities, as well as green areas, to enhance the quality of life within the suburb at competitive prices that suit the purchasing power of Saudi families.

NHC

Recently, the CEO of NHC, Mohammed Bin Saleh Albuty, received the license to sell Dahiyat Al-Fursan with an off-plan sale system in the Kingdom as a master developer. The agreement takes place in the presence of His Excellency the Minister of Municipal and Rural Affairs and Housing, Mr Majed bin Abdullah Al-Hogail, and the CEO of the Real Estate General Authority, Eng. Abdullah bin Saud Al-Hammad.

For the uninitiated, off-plan sales are beneficial for both potential homeowners and property investors. In addition to guaranteed profit, buying off-plan properties is more affordable and flexible than buying existing properties.

Broader view

As a key developer, NHC seeks to cooperate with a group of real estate developers with experience and competence in the field of real estate development and who are qualified to develop real estate projects according to the latest methods and innovative technologies and to adopt international best practices during the implementation of its projects.

Saudi housing

The company is keen to contribute to meeting the growing demand for residential communities in the Kingdom by providing more than 116,000 units in various regions of the Kingdom through partnerships with more than 105 real estate developers.

Furthermore, the capital city receives a greater focus from the company, as it has provided more than 38 thousand housing units to increase the real estate supply in Riyadh. The company also aims to reach more than 147,000 housing units in Riyadh by 2025.

As the largest real estate developer in the Kingdom, NHC aims to increase the real estate supply to more than 300,000 units by 2025 in partnership with the private sector. This is in line with Vision 2030’s objective of raising the percentage of Saudi families owning their first home.

However, offering housing options isn’t the only mandate for NHC. It ultimately aims to raise the standard of living for people across the country and is targeting that goal through its projects.

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