NHC records highest evet sales of over SAR 3B in May: CEO

Mohammed Al-Buty CEO of National Housing Co. (NHC)

National Housing Co. (NHC) reported the highest sales on record in May of more than SAR 3 billion since the start of its projects, CEO Mohammed Al-Buty said in an interview with Al Arabiya.

Demand for the company's developed residential projects is on the rise. He noted that the company's projects receive strong turnout, and prices are at least 20% to 25% lower than similar units in surrounding projects, as the company strives to offer competitive quality and price.

The official sale of the Makkah Gate Suburb project was launched with five real estate developers. The project is the first of its kind in Makkah. Other projects will be launched in the coming period, adding to the company's portfolio in the Western Region (Jeddah, Mecca, Medina, and Taif).

Majid Al-Hogail, Minister of Municipal, Rural Affairs, and Housing, inaugurated on June 5 the Makkah Gate Suburb. This project marks NHC’s inaugural suburb in Makkah on a total area of over five million square meters. It features more than 8,300 residential units, including villas, townhouses, and apartments, Argaam earlier reported.