Saudi Arabia’s National Housing Company (NHC) has reported a remarkable increase in residential unit sales in the first half of 2024, totaling SAR13.5 billion ($3.59 billion). More than 13,000 units were sold, marking a fourfold rise compared to the same timeframe last year, SPA reported.
This success stems from NHC’s ongoing commitment to addressing the housing needs of citizens throughout various regions of the Kingdom, emphasizing the creation of a holistic urban environment that improves quality of life.
Strategic housing projects
The surge in sales can be linked to NHC’s introduction of multiple housing projects across the Kingdom. These initiatives are instrumental in achieving the goals of Saudi Vision 2030, particularly in raising the homeownership rate to 70 percent.
Integrated community development
This growth is a result of NHC’s focus on comprehensive development in its suburbs and communities, providing an integrated lifestyle that includes residential, social, recreational, and health amenities all in one location. NHC has also embraced sustainable urban planning principles, enhancing green space density and ensuring convenient access to facilities and services through safe pedestrian and cycling pathways. Furthermore, it offers viable financing options for citizens from all walks of life.
Leading the real estate sector
As the foremost catalyst for the real estate development sector, NHC is the principal developer of suburbs and urban communities in the Kingdom, recognized for its commitment to enhancing quality of life. The company aims to deliver over 300,000 residential units by the end of 2025 across nine suburbs and six residential communities, covering more than 100 million square meters and serving over 1.5 million residents.
Commitment to sustainability
Additionally, NHC is dedicated to securing high-quality supply chains and promoting the use of more sustainable construction materials, aligning with its mission to expand the real estate supply with housing options that meet international standards.
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