Saudi National Housing partnerships, valued at over SR5 billion, strengthen the company’s commitment to sustainable urban communities and Saudi Arabia’s real estate sector

 In a significant display of its expanding momentum, the Saudi National Housing partnerships secured 21 new agreements with both local and international companies on the second day of Cityscape Global 2024, highlighting the Kingdom’s growing commitment to real estate excellence and sustainable development.

The total value of Saudi National Housing partnerships signed over the first two days of the event exceeds SR5 billion (approximately $1.33 billion), marking a significant step forward in NHC’s mission to enhance urban infrastructure across the Kingdom. These agreements span various sectors, including supply, logistics, interior design, and technical services, all crucial to NHC’s goal of creating modern, integrated, and sustainable urban destinations.

NHC’s partnerships align with the Kingdom’s Vision 2030, which seeks to diversify the economy and develop world-class infrastructure, particularly in the real estate sector, which contributes about 7% of Saudi Arabia’s GDP. Notable agreements include a strategic collaboration with “Solutions by STC” to enhance technical services for the “Sakani” and “Balady” platforms, two of the government’s flagship housing initiatives. These platforms aim to make homeownership more accessible through digital solutions and services for Saudi citizens.

Additionally, NHC signed deals with various organisations to foster innovation and sustainability within the housing sector. The agreements with the Sakani Foundation, Ardara (a local real estate developer), and K-water (a South Korean company), alongside partnerships with LX and 2GIS, aim to enhance sustainability assessments and knowledge transfer in real estate projects. A key agreement was also signed with ROSHN, the real estate arm of the Public Investment Fund (PIF), to integrate the Sakani services into their offerings and collaborate on sustainability measures.

The company further emphasised its commitment to creating an integrated residential environment by securing a deal with Takamol for a professional accreditation programme aimed at improving housing quality for both individuals and communities. NHC is also partnering with the General Authority for Roads to introduce new routes in its urban developments, contributing to the wider goal of sustainable infrastructure.

NHC’s partnerships extend to the supply chain sector as well. Agreements were reached with companies like Bahra Electric Co., which will provide cables and wires, and Al-Nasser Group, which will supply energy-efficient lighting solutions. The company also entered into collaborations with renowned global electrical appliance manufacturers, including Legrand, Panasonic, and Siemens, ensuring the inclusion of top-quality equipment in its housing projects. These alliances ensure that the housing developments meet the highest technical standards and contribute to energy efficiency.

In addition to enhancing infrastructure, NHC signed agreements to improve the safety and comfort of its urban communities. An agreement with Al-Kuhaimi Metal Industries Ltd. will see the provision of metal doors designed to improve privacy and security, while Al-Hayat Building Materials Co. will supply sanitary ware to enhance the quality of interior finishes.

The company also continued its focus on improving the flexibility and efficiency of its operations by signing an MoU with Mask, a logistics service provider, to optimise supply chain processes. Meanwhile, Madar will contribute innovative interior designs, ensuring that the architectural identity of NHC destinations reflects both modern tastes and a unique character.

In parallel, the Real Estate Development Fund (REDF) announced a significant increase in housing support during the event. The fund reported a 190% growth in the number of financing contracts for the Sakani program, with the total value of real estate financing increasing by 225% compared to the previous month. These statistics demonstrate the growing demand for affordable housing solutions and the role of strategic partnerships in facilitating homeownership for Saudi citizens.

As part of its efforts to strengthen its position in the housing finance sector, REDF signed four MoUs at the event with financial institutions such as Jadwa Investment, Value Capital, and ANB Capital. These agreements are designed to support the fund’s strategic goals of stimulating real estate investment and financing housing projects in line with national objectives.

Cityscape Global 2024 also featured discussions on regional cooperation, with Kuwait’s Minister of Municipality and Housing, Abdullatif Al-Mishari, meeting Saudi Arabia’s Minister of Municipal and Rural Affairs and Housing, Majid Al-Hojail, to discuss collaboration in the real estate sector. Their talks centred on expanding construction, supporting developers, and sharing knowledge to enhance sustainable development efforts across the region.

In another key development, the Real Estate Registry signed seven memoranda of cooperation with various stakeholders, including the REDF and major property platforms, to improve property registration processes and facilitate smoother transactions for homebuyers.

Cityscape Global 2024, running until November 14, showcases Saudi Arabia’s ambitions to be a global leader in real estate and sustainable urban development. The Saudi National Housing partnerships formed at the event highlight the Kingdom’s commitment to advancing its real estate sector in line with Vision 2030, fostering thriving, sustainable communities for the future.