The Saudi National Housing Co. followed up its first day momentum by signing 21 new agreements with local and international partners on its second day at Cityscape Global 2024. A total value of SAR 5 billion exceeded within the first two days of the event reflects an NHC expanding role in moving forward the Kingdom’s real estate sector.
Such partnerships would encompass a range of sectors from infrastructure development, logistics, supply chain, and interior design, and all these sectors would form the core of NHC’s strategy of creating integrated, wholesome, and sustainable urban destinations. These alignments resonate with Saudi Arabia’s overarching economic strategy because the real estate sector is a critical contributor to the country’s GDP, coming in at around 7% contribution, and through its very operation, supports various other industries that are critical to the overall growth prospects of the country.
Among many of these agreements, a very strategic one would be the one with Solutions by stc aimed at further developing technical services for both the Sakani and Balady platforms in terms of housing solutions for Saudi citizens. Other well-profiled agreements included local and international firms in terms of collaborations; Ardara for sustainability assessments, LX and K-water for knowledge transfer, and Takamol to develop professional accreditation programs.
NHC entered into various high-profile investment agreements with major real estate developers, such as Dar Wa Emaar and Ajdan Real Estate Development, for residential projects and community centers across the Kingdom. On the supply chain side, the company tied up with Bahra Electric Co., Al-Nasser Group, and the world’s leading electrical appliance manufacturers-including Legrand, Panasonic, and Siemens-to guarantee high-quality materials and products for its urban projects.
In addition, NHC pledged to ensure safety and confidentiality in its projects through partnering with Al-Kuhaimi Metal Industries to supply metal doors and with Al-Hayat Building Materials for sanitary ware.
Cityscape Global 2024 Underlines Accelerated Pace of Building in the Kingdom, Places the Event at the Forefront of Vision 2030’s Implementation Roadmap, Gearing up to position Saudi Arabia as one of the top global players in real estate and sustainable urban development. The largest event among its kind serves as a testament to NHC’s role in facilitating innovation towards high-quality housing solutions for the nation.
