Saudi: In H1 2024, NHC and partners' project sales will surpass $3.46 billion.

Post by: Elena Malik

Riyadh: The National Housing Company (NHC) has reported remarkable progress in its residential unit sales for the first half of 2024, achieving SAR 13.5 billion in sales. This figure represents a significant increase, with over 13,000 units sold—a fourfold rise compared to the same period last year.

This surge in sales is attributed to NHC's strategic efforts to address the housing needs of Saudi citizens throughout various regions of the Kingdom. The focus has been on delivering a comprehensive urban environment designed to enhance the quality of life for all societal segments.

The substantial growth in sales can be linked to the launch of numerous housing projects by NHC across different parts of the Kingdom. These projects are instrumental in advancing the objectives of Saudi Vision 2030, particularly the goal of increasing homeownership rates to 70%.

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NHC’s success is also due to its emphasis on developing integrated communities that offer a holistic lifestyle. This includes residential areas complemented by social, recreational, and health facilities, all within a single locale. The company has embraced sustainable urban planning by expanding green spaces and ensuring accessibility to various services through safe pedestrian and cycling paths. Additionally, NHC provides a range of financing options to cater to citizens from different segments.

As the leading force in real estate development within the Kingdom, NHC is committed to transforming suburbs and urban communities to enhance the quality of living. The company aims to deliver over 300,000 residential units by the end of 2025, spread across nine suburbs and six residential communities. These developments will cover more than 100 million square meters and are expected to accommodate over 1.5 million residents.

NHC is also focused on improving the sustainability of its construction practices. This includes securing high-quality supply chains and utilizing more sustainable building materials to meet international standards and increase the overall housing supply.

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