NHC signs 5 MoUs to enhance real estate supply chains

The signing ceremony

Saudi Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail witnessed the signing of five memorandums of understanding (MoUs) by National Housing Co. to boost supply chains in the real estate development projects, state-run SPA reported.

The MoUs were signed on the sidelines of the first day of the Real Estate Supply Chain Forum 2024.

NHC signed a MoU with the Saudi Authority for Industrial Cities and Technology Zones to establish an industrial city, a platform to develop a virtual park, a company for providing equipment and building materials, Al-Bawardi Co. for the iron industries, in addition to the PENNY platform for automation and industrial intelligence solutions.

The announcements follow Saudi Arabia’s setting up an industrial city and the logistics zones in Riyadh, in partnership with Chinese CITIC Group. The move will efficiently boost the real estate development projects by improving project quality, enhancing local output, and creating 10,000 job opportunities to maximize the economic and developmental impact in the Kingdom.