Mohammed bin Saleh Al-Buty, CEO of Saudi Arabia’s National Housing Company (NHC), announced that the company’s real estate portfolio is expected to exceed SAR225 bn by the end of 2025, Invest-Gate reports.

This growth is in collaboration with 90 local and international developers.

Speaking at the 2024 Real Estate Supply Chain Forum, Al-Buty unveiled the NHC’s grand vision. The company aims to offer a staggering 300,000 housing units by 2025 and an even more impressive 600,000 units by 2030, a testament to our commitment to meet the growing housing needs of Saudi Arabia.

Al-Buty also unveiled a strategic SAR3 bn partnership with China’s CITIC Group. This collaboration aims to establish an industrial city and logistics areas, including 20 factories, strategically positioned to supply building materials for our ambitious housing projects.

This agreement, shared on NHC’s X platform, is expected to improve project quality, boost local production, and create around 10,000 direct and indirect jobs.

Al-Buty anticipates that the industrial city will significantly enhance the economic and developmental impact of the real estate sector, with an estimated value of SAR33 bn.

Additionally, NHC has signed a cooperation agreement with China Machinery Engineering Corporation (CMEC) to build 20,000 housing units within its developing residential communities.