RIYADH: In a bid to expedite first-time home ownership among Saudi families, the National Housing Co. has announced the successful delivery of over 30,000 units up to September 2023, in collaboration with property developers.
The announcement coincided with the celebration of the 93rd Saudi National Day, further emphasizing the NHC’s objective of providing modern accommodations to over 300,000 individuals by 2025.
This mission also aligns with the firm’s efforts to accelerate the pace of first-time home ownership, with the provision of diverse housing options and high-quality projects contributing significantly to the development of the real estate supply in the Kingdom.
In a statement, the NHC explained that the delivery of the residential units is dispersed across 11 cities around the Kingdom, including Riyadh, Jeddah, Makkah and Al-Ahsa. They are also distributed across Dammam, Qatif, Alkhobar, Khamis Mushayt, Taif, Yanbu and Madinah.
The company also stated that it is actively working on various future projects under construction, offering competitive prices while adhering to the highest standards of quality and sustainability within residential environments designed to enhance the quality of life.
These projects integrate services, green spaces, vital facilities, and pedestrian paths to ensure safe and easy access to all amenities, it added.
The housing company said this holistic approach is expected to boost social and environmental sustainability while promoting a healthy lifestyle for Saudi families. These projects are being carried out in partnership with the Real Estate Development Fund and financing agencies from the private sector.
Established in 2016, the NHC aims to become a leader in the real estate development sector and foster strategic partnerships between the public and private sectors.
The company said it is committed to providing high-quality projects in urban communities with modern designs and various housing solutions at affordable prices. This commitment aligns with the aspirations of future generations and aims to improve their quality of life, all in collaboration with experienced and efficient real estate developers.
Under the housing program, one of the key initiatives of Saudi Vision 2030, the Kingdom aims to increase the proportion of Saudi households that own a house from 47 percent in 2016 to 70 percent by 2030.