NHC real estate supply to hit 300,000 housing units by 2025: CEO

Mohamed Al-Bati, CEO of National Housing Co. (NHC)

The National Housing Co.'s (NHC) real estate portfolio is expected to be valued at more than SAR 225 billion by the end of 2025, in partnership with 90 local and international real estate developers, said CEO Mohamed Al-Bati.

The company’s real estate supply is set to comprise 300,000 and 600,000 housing units by 2025 and 2030, respectively, he said in his speech today, May 20, during the Real Estate Supply Chain Forum 2024.

Last year, NHC launched Mawad platform to support local content and raise the efficiency of the local industry. Transactions carried out via the platform have so far reached more than SAR 2 billion, Al-Bati underlined.

Further, the number of agreements on the platform since its rollout stood at 140 with more than 90 local factories and suppliers. These agreements contributed to securing construction materials for NHC projects, achieving 20% savings for developers and contractors, he noted.

Furthermore, NHC launched earlier this year Rakaez Program, through which it seeks to strengthen local content in its projects, said the top executive, adding that the company’s local content consumption in its projects amounted to 54%. It also contracted with more than 2,000 establishments locally.

NHC signed earlier this month a qualitative agreement with China's CITIC Construction Group to establish an industrial city and logistics zones for building materials. The project will include 20 factories at the current stage, aiming to meet the needs of NHC projects for building materials.

This partnership, valued at SAR 3 billion, will likely contribute effectively to improving the quality of NHC projects, while boosting local production and creating about 10,000 job opportunities. It is also poised to support maximizing the economic and development impact of the local real estate sector with up to SAR 33 billion, Al-Bati stated.