National Housing set to build 80,000 homes in Riyadh's new residential districts
Sponsored: The company announces a new residential development of Al-Fursan district and the second phase of Khuzam district in Riyadh…
In line with the objectives of the Kingdom’s housing programme, which strives to raise the home-ownership percentage among Saudi households from 60 per cent in 2020 to 70 per cent by 2030, the National Housing Company (NHC) announces a new residential development of Al-Fursan district and the second phase of Khuzam district in Riyadh.
NHC will provide 80,000 housing units in these districts, representing the largest real estate supply in the Saudi capital.
About the residential projects
Al-Fursan District: Located 35 kilometres northeast of Riyadh, it spans a total area of 35 million square metres and aims to build more than 50,000 residential units for more than 250,000 people.
Khuzam District: The development is in the north of Riyadh, with a total area of over 21 million square metres. It will include 30,000 homes for 150,000 people. With the start of the second phase, NHC expects the delivery of the first batch to be scheduled for 2026.
Commenting on the two projects, NHC’s CEO Mohammad Bin Saleh Al-Buty said, “National Housing Company continues to develop the real estate sector in Riyadh, where we aim to raise the rate of home ownership by Saudi families to 70 per cent. We play an active role in stimulating the housing and real estate system to attain the goals of the overall Vision 2030’s Housing Programme.”
Having said that, offering housing options isn’t the only directive for the Riyadh-headquartered real estate development giant. It ultimately aims to focus the efforts on all aspects of quality of life and secure high living standards for the Kingdom’s citizens.
According to Al-Buty, the two projects mark an extension of NHC’s efforts to build high-quality housing units featuring new vibrant urban communities in a modern environment with integrated facilities and services designed in a unique way.
The company also seeks to maximise opportunities for citizens to access adequate housing by providing financing solutions via a myriad of procedures accessible by Saudi families.