NHC to offer 88,000 housing units in 2024: CEO

Mohammad Albuty CEO of National Housing Company  

National Housing Co. (NHC) is set to launch a lot of projects in 2024, as it will offer more than 88,000 housing units, in addition to several diverse investment projects that include office, hotel, commercial, and educational projects in more than one city with a value exceeding SAR 6 billion, according to CEO Mohammed Albuty.

During his participation in the Real Estate Future Forum held in Riyadh today, Albuty said that the company aims to create 300,000 housing units in 2025, with a value exceeding SAR 250 billion, and to reach 600,000 housing units by 2030.

This requires the company to work mainly and commercially with financiers and the private sector, the CEO added, noting that NHC is working extensively to change the business model, build the necessary cadres to change the concept of real estate development, and pump a large real estate supply to enable it to achieve the ambitious and large targets within the housing program.

NHC can develop more than 100 million square meters and sign more than 62,000 contracts worth SAR 50 billion, as it is the largest company in terms of developing spaces or selling residential units, said the CEO.

He stated that NHC successfully exceeded the Quality of Life Program targets of 6 meters of open space per capita by nearly double, noting that the company is working to implement more than 10 million meters of green spaces in its ongoing projects.