NHC signs six agreements to develop housing units and mall in Riyadh

and Housing Ihab Hashani was present today as the National Housing Company (NHC) signed six cooperation agreements (Co-op) with prominent real estate developers to develop and implement 2309 housing units in Riyadh’s Khuzam Suburb. The units are subsidized and shall be sold at prices starting from SAR 250,000. Hashani also bore witness to NHC's agreement with Nojoom Al Salam Holding Company for the development and operation of North Riyadh's Khuzam Valley Commercial Complex. Another equally important project concluded today was the agreement signed with Leejam Sports Company to lease and operate the commercial complex at the Murcia Project North Riyadh.

NHC signed agreements for several other development projects with other real estate developers, including Osus Housing, Dar Khuzam, Jawharat Al-Ramz, Naseem Khuzam, Awali Al-Narjis, and Khuzam Riviera, in Khuzam Suburb. The unit areas range from 125 m2 to 299 m2 at subsidized prices starting from SAR 249,000. This achievement comes within the framework of joint efforts to improve housing affordability to achieve the goals of the Housing Program—one of the Saudi Vision 2030 programs—by providing Saudi families with opportunities to own adequate housing by offering multiple housing products and various financing solutions to beneficiaries.

In the meantime, NHC signed an agreement for the development and operation of the Khuzam Valley Complex, at the Prince Faisal bin Bandar Road, in Khuzam Suburb. The mega developer also signed an agreement with Leejam Sports Company to lease and operate the commercial complex at the Murcia Project North Riyadh. The Complex will host men's and women's gyms, and commercial and health services and centers, supporting the community residents with their day-to-day needs.

Hashani lauded NHC for its role in creating promising opportunities to develop the real estate sector and improve the quality of services provided, to meet the aspirations of Saudi families, achieve the highest standards of quality of life as a strategic goal, and provide a variety of housing options at affordable prices. Mr. Hashani believes that NHC's efforts concur with the goals of the Housing Program—one of the Saudi Vision 2030 programs—which aims to increase Saudis housing ownership to 70% by the end of 2030.