{"id":640166,"date":"2024-08-21T00:00:00","date_gmt":"2024-08-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/21\/saudi-national-housing-offers-usd-200-bn-worth-of-infrastructure-and-housing-projects-to-egyptian-firms\/"},"modified":"2024-08-21T00:00:00","modified_gmt":"2024-08-21T00:00:00","slug":"saudi-national-housing-offers-usd-200-bn-worth-of-infrastructure-and-housing-projects-to-egyptian-firms","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/21\/saudi-national-housing-offers-usd-200-bn-worth-of-infrastructure-and-housing-projects-to-egyptian-firms\/","title":{"rendered":"Saudi National Housing offers USD 200 bn worth of infrastructure and housing projects to Egyptian firms"},"content":{"rendered":"

Saudi Arabia is increasingly looking towards Egyptian construction companies<\/strong>: <\/strong>Saudi Arabia\u2019s National Housing Company<\/a> (NHC) is set to launch a limited tender for Egyptian construction companies to bid on USD 200 bn worth of housing and infrastructure projects in the kingdom, a source with knowledge of the matter told Enterprise. The NHC met with 16 local companies and the Housing Ministry earlier this week to present the initiative, which includes infrastructure projects in Mecca, Tabuk, and Jazan.<\/p>\n

Who is in the running? <\/strong>Leading local construction players, including Orascom Construction, Hassan Allam Construction, Arab Contractors, Petrojet, Nasr General Contracting, and Alshams for Contracting, participated in the talks. The meeting reportedly discussed the companies\u2019 experience implementing large infrastructure projects and their ability to follow through on a contract.<\/p>\n

There\u2019s still a few hurdles to be crossed before contracts can be inked:<\/strong> The Central Bank of Egypt is yet to give banks the greenlight to issue letters of guarantee in USD or SAR, a crucial step for Egyptian firms to enter the Saudi market and secure foreign currency, the source explained. Discussions are also underway to establish a risk fund at the central bank to facilitate the issuance of guarantees for these companies. In addition to the guarantees, the NHC has proposed increasing the issuance commission as an incentive for banks to facilitate the process.<\/p>\n

There are plenty of Egyptian companies already developing projects in the kingdom with<\/strong> the NHC: <\/strong>Talaat Moustafa Group began selling units<\/a> in May for its first development both in Saudi Arabia and outside of Egypt. The mixed-use SAR 65 bn Benan City project in Riyadh that was developed in partnership with the NHC will be fully built out over eight years and eventually house 27.8k residential units, along with a sports club and health, educational, and commercial services. Al Ahly Sabbour also has a Riyadh real estate project in the works<\/a>. Our friends at Hassan Allam Construction Saudi were also awarded a contract last month<\/a> to develop Port of NEOM\u2019s Container Terminal 1 and a related marine services area. <\/p>\n

Remember<\/strong>: The Saudi real estate industry is under pressure to keep up with demand as the country\u2019s population is on track to grow, with the share of expats rising to 50% from a current 42% by 2030, S&P Global said earlier this year<\/a>. Saudi has some USD 103.1 bn-worth of active building projects<\/a>, with around 900 projects worth a combined USD 50 bn currently in the construction phase.<\/p>\n","protected":false},"excerpt":{"rendered":"

Saudi Arabia\u2019s National Housing Company met with 16 local construction leaders to discuss the projects<\/p>\n","protected":false},"author":1,"featured_media":640167,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7562],"tags":[130,6681,72,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-640166","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-construction","tag-construction","tag-egypt-saudi-relations","tag-enterpriseam","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"d1359a03-4bdc-4f82-a08e-c1a005fdd4a5","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/1838.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi 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new homes by 2034, first-tier Egyptian contractors are being fast-tracked to bridge the Kingdom\u2019s capacity gap.","rel":"","context":"In "Construction"","block_context":{"text":"Construction","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/construction\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/4\/585.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563156,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/21\/usd-20-bn-saudi-investment-drive-more-from-china\/","url_meta":{"origin":640166,"position":1},"title":"USD 20 bn Saudi investment drive + more from China","author":"enterpriseam admin","date":"21 June 2021","format":false,"excerpt":"KSA is planning serious investment in Egypt: Saudi Arabia could invest as much as USD 20 bn in Egypt over the next five years, Egyptian-Saudi Joint Business Council Chairman Bandar Al Ameri told Akhbar El Youm, saying the drive could bring total investments here from the 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Projects in Egypt made up 65% of new contracts during the quarter, including a contract to design, install, commission and maintain Egypt\u2019s first high-speed rail\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/10\/144.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595095,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/16\/secon-to-invest-egp-5-bn-in-egypts-real-estate-over-coming-3-years\/","url_meta":{"origin":640166,"position":3},"title":"SECON to invest EGP 5 bn in Egypt\u2019s real estate over coming 3 years","author":"enterpriseam admin","date":"16 September 2019","format":false,"excerpt":"The Saudi Egyptian Company for Development (SECON), formerly known as the Saudi Egyptian Construction Company, aims to expand its investment in Egypt\u2019s real estate market to EGP 9 bn within three years, up from EGP 4 bn currently, CEO Mohamed El-Taher told Al Shorouk. The company, which aims to become\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":675804,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/11\/19\/hassan-allam-holding-to-help-develop-sar-3-3-bn-project-in-riyadh-2\/","url_meta":{"origin":640166,"position":4},"title":"Hassan Allam Holding to help develop SAR 3.3 bn project in Riyadh","author":"enterpriseam admin","date":"19 November 2025","format":false,"excerpt":"PLUS- Brassbell launched SAR 120 mn Fanaya Hotel in Jeddah","rel":"","context":"In "EXPANSION"","block_context":{"text":"EXPANSION","link":"https:\/\/enterpriseam.com\/egypt\/category\/expansion\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/11\/1444.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544849,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/23\/orascom-construction-net-income-up-29-in-2021\/","url_meta":{"origin":640166,"position":5},"title":"Orascom Construction net income up 29% in 2021","author":"enterpriseam admin","date":"23 March 2022","format":false,"excerpt":"Orascom Construction (OC) reported USD 113.4 mn in net income attributable to shareholders in 2021, up 29% y-o-y, according to its financials (pdf). 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