The National Housing Company (NHC) inked SAR 30 bn worth of real estate agreements at the Real Estate Future Forum (REFF) in Riyadh, according to Mubasher. The signed initiatives look to boost local content, innovation, and sustainability in the local real estate sector.

Agreements signed at the REFF include:

  • An MoU with the Industry and Mineral Resources Ministry to bolster supply chains and local content in real estate development;
  • An MoU with King Abdulaziz City for Science and Technology and Al Saif Company to advance off-site construction techniques;
  • Supply chain services agreements with a host of real estate firms — including Retal, Dar Wa Emaar, and Al Raed Real Estate Development — to enhance project efficiency and quality;
  • Open purchase agreements with Al Zamil Air Conditioners Factory for air conditioning supply chains;
  • Strategic collaboration to launch a logistics city in Khuzam with CETIC Construction and Alrawaf Contracting (Linkedin) to strengthen supply chains in the real estate sector and support future projects;
  • An MoU with Saudi Media Academy to provide specialized training programs for developing national media talent (Linkedin).

A new NHC subsidiary + IPO plans: The company launched its new digital arm, NHC Innovation, to manage the company’s digital gateways, according to a post on X. The company manages 10 digital platforms serving 20 mn users and handling 500 mn operations per year, with SAR 250 bn in financial transactions in 2024. NHC is currently mulling IPOs of multiple companies, including NHC Innovation, Al Batty told Alarabiya.

NHC has big plans for this year: The state-owned home developer has a SAR 70 bn housing projects pipeline lined up for 2025, Mubasher reported, citing NHC CEO Mohammed Al Batty. NHC’s real estate portfolio, including partner holdings, is expected to surpass SAR 200 bn by the year’s close. The developer is also on track for its 2025 targets as it aims to hit the milestone of delivering upwards of 300k housing units across 17 locations by the year’s end, Mubasher separately quotes Al Batty.

Riyadh in the crosshairs: 50% of new home developments lined up for the year will be situated in the capital, with 70k new housing units earmarked this year, Al Batty added.

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