KSA’s National Housing Company launches new logistics city, inks MoUs worth SAR 30 bn

Saudi’s National Housing Company (NHC) signed multiple logistics and supply chain agreements, which came as part of a flurry of SAR 30-bn-worth agreements it signed during the Real Estate Future Forum that concluded on Tuesday, 28 January, in Riyadh, Asharq Business reports.

Here is what we know:

#1- NHC signed an agreement to launch a logistics city in the Khuzam development with the Chinese state-owned firm CITIC and Al Rawaf Contracting Company, Asharq Business reported. The project targets optimizing the supply chains in the country’s real estate sector, SPA reported.

SOUNDS FAMILIAR? Over SAR 3 bn in initial investments were pledged in May 2024 to build an industrial city and logistics zone for building materials under a partnership agreement between CITIC and NHC. The project will be home to 12 Chinese factories and a number of local factories.

#2- An MoU to cooperate on supply chains and industrial linkage programs was signed with the Ministry of Industry and Mineral Resources, with the aim to support and lead local content in the real estate development sector. No further details were disclosed.

#3- NHC also signed several open purchase agreements (OPA) to secure supply chains for real estate development, including an OPA with Zamil Air Conditioners Factory to secure air conditioning works supply chains. No further details were made available on these agreements.