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Riyadh, Saudi Arabia
Riyadh: The National Housing Company (NHC) has announced a significant leap in its residential unit sales during the first half of 2024, reaching SAR13.5 billion.
Over 13,000 units were sold, a fourfold increase compared to the same period last year.
This achievement results from ongoing efforts to meet the housing needs of citizens across various regions of the Kingdom and all segments of society, focusing on providing a comprehensive urban environment that enhances the quality of life.
The sales growth is attributed to NHC's launch of numerous housing projects across different regions of the Kingdom. These projects contributed to the realization of Saudi Vision 2030 goals by increasing the homeownership rate to 70%.
The exceptional growth results from NHC's adoption of comprehensive development in its suburbs and communities, offering an integrated lifestyle encompassing residential, social, recreational, and health aspects in one place. NHC has also adopted sustainable urban planning concepts by increasing the density of green spaces and ensuring easy access to all facilities and services through safe pedestrian and cycling paths. Also, it offers suitable financing options for citizens across all segments.
NHC is the leading driver of the real estate development sector and the main developer of suburbs and urban communities in the Kingdom, known for its quality of life. The company aims to deliver more than 300,000 residential units by the end of 2025 across nine suburbs and six residential communities, covering an area exceeding 100 million square meters and accommodating more than 1.5 million citizens.
The company also seeks to provide solutions to secure high-quality supply chains and more sustainable construction materials as part of its commitment to increasing the real estate supply with housing options that meet global standards.
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