Latest news with #NationalHousingCompany
Daily Mail
15 hours ago
- Business
- Daily Mail
'Saudi Arabia is a global destination for real estate investment,' says Mohammed Albuty, CEO of the National Housing Company
Mohammed Albuty, CEO of the National Housing Company (NHC), affirmed that Saudi Arabia is undergoing a significant transformation in the real estate sector, driven by the objectives of Saudi Vision 2030. He emphasised that NHC is at the forefront of this transformation as the region's largest real estate developer and the executive arm of the public sector. Mr Albuty's remarks came during his participation at the 'Capitals London ' event, held alongside the Cityscape Global Exhibition, where he highlighted that NHC has played a key role in the success of raising the homeownership rate among Saudi citizens to 65pc one year ahead of schedule, and aims to reach 70pc by 2030. This progress has been fuelled by the development of more than 600,000 residential units, half of which are expected to be completed by the end of 2025. He added that the company is currently managing 39 high-profile projects across 17 cities in Saudi Arabia, with total investments exceeding $154 billion. To date, over 100,000 residential units have been sold through off-plan sales. NHC also manages a land portfolio in the Kingdom spanning more than 284 million square meters. Mr Albuty emphasised that enhancing quality of life is a core pillar of the company's strategic plans. Sustainability principles are embedded across all stages of development, from planning and design to material selection and community management. NHC aims to reduce commuting times, provide interactive public spaces, promote healthy lifestyles that strengthen social bonds and a sense of belonging, and dedicate vast areas to green spaces. Mr Albuty also noted that NHC has successfully attracted international developers with direct investments exceeding $10 billion, through strategic partnerships with global real estate firms. Key partners include K. Hovnanian from the United States, Urbas from Spain, TMG from Egypt, CITIC Group from China, Emlak Konut from Turkey, and Kooheji from Bahrain. These partnerships encompass the development of major residential projects, in addition to collaboration with CITIC in areas such as supporting industries, logistics zones, and supply chains to enhance local content. Mr Albuty concluded his statement by affirming that the Saudi real estate market is gaining increasing confidence from investors around the world. He emphasised that NHC is moving forward with a clear vision to become the main driver of real estate growth, contributing to the development of integrated cities that reflect customer aspirations and support the objectives of Saudi Vision 2030.
Zawya
4 days ago
- Business
- Zawya
Asas Makeen bags $64mln construction contract from NHC for Riyadh project
Asas Makeen Real Estate Development and Investment Company has signed an agreement with the state-run National Housing Company (NHC) to develop portions of Al-Mashraqiyah housing project in east Riyadh. The company will execute the superstructure works for the construction of 470 residential units in the 'Tali' phase of the master community at the cost of 240 million Saudi riyals ($63.94 million), the Nomu-listed firm said in a statement on Monday. The phase covers a total area of nearly 71,178 square metres (sqm). The contract, which is scheduled to be completed in 42 months, will have a positive financial impact from the fourth quarter of 2025, the statement said. (Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
Scotsman
05-06-2025
- Business
- Scotsman
Saudi Arabia undergoes significant transformation in real estate sector
Homeownership rates in Saudi Arabia aim to reach 70 per cent by 2030 | No Credit Saudi Arabia is undergoing a significant transformation in the real estate sector, according to the region's largest developer. Sign up to our daily newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to Edinburgh News, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Mr Mohammed Albuty, CEO of the National Housing Company (NHC), made the announcement today (June 5). It came during his participation in the Capitals London event, held alongside the Cityscape Global Exhibition. Albuty highlighted that NHC has played a key role in the success of raising the homeownership rate among Saudi citizens, which is currently at 65 per cent. NHC are aiming to increase this to 70 per cent by 2030. To achieve this, he added that 600,000 residential units are in development - half of which are expected to be completed by the end of 2025 - and NHC is currently managing 39 major projects in 17 cities, with total investments surpassing £113 billion. To boost homeownership rates, Albuty emphasised that enhancing quality of life is a core pillar of the company's strategic plans Enhancing quality of life is a core pillar of the company's strategic plans | No Credit NHC plays a key role in the success of raising homeownership in Saudi Arabia This includes sustainability, reducing commuting times, providing interactive public spaces, promoting healthy lifestyles that strengthen social bonds and a sense of belonging, and dedicating vast areas to green spaces. Albuty also noted that NHC has successfully attracted international developers with direct investments exceeding £7.3 billion - most notably from Hovanian in the US, and TMG from Egypt. These partnerships encompass the development of major residential projects, in addition to collaboration with CITIC in areas such as supporting industries, logistics zones, and supply chains to enhance local content. Mr. Mohammad Albuty concluded his statement by affirming that the Saudi real estate market is gaining increasing confidence from investors around the world. He emphasised that NHC is moving forward with a clear vision to become the main driver of real estate growth, contributing to the development of integrated cities that reflect customer aspirations and support the objectives of Saudi Vision 2030.
Scotsman
05-06-2025
- Business
- Scotsman
Saudi Arabia undergoes significant transformation in real estate sector
Homeownership rates in Saudi Arabia aim to reach 70 per cent by 2030 | No Credit Saudi Arabia is undergoing a significant transformation in the real estate sector, according to the region's largest developer. Sign up to our daily newsletter – Regular news stories and round-ups from around Scotland direct to your inbox Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Mr Mohammed Albuty, CEO of the National Housing Company (NHC), made the announcement today (June 5). It came during his participation in the Capitals London event, held alongside the Cityscape Global Exhibition. Albuty highlighted that NHC has played a key role in the success of raising the homeownership rate among Saudi citizens, which is currently at 65 per cent. NHC are aiming to increase this to 70 per cent by 2030. To achieve this, he added that 600,000 residential units are in development - half of which are expected to be completed by the end of 2025 - and NHC is currently managing 39 major projects in 17 cities, with total investments surpassing £113 billion. To boost homeownership rates, Albuty emphasised that enhancing quality of life is a core pillar of the company's strategic plans Enhancing quality of life is a core pillar of the company's strategic plans | No Credit NHC plays a key role in the success of raising homeownership in Saudi Arabia This includes sustainability, reducing commuting times, providing interactive public spaces, promoting healthy lifestyles that strengthen social bonds and a sense of belonging, and dedicating vast areas to green spaces. Albuty also noted that NHC has successfully attracted international developers with direct investments exceeding £7.3 billion - most notably from Hovanian in the US, and TMG from Egypt. These partnerships encompass the development of major residential projects, in addition to collaboration with CITIC in areas such as supporting industries, logistics zones, and supply chains to enhance local content. Mr. Mohammad Albuty concluded his statement by affirming that the Saudi real estate market is gaining increasing confidence from investors around the world.
Yahoo
05-06-2025
- Business
- Yahoo
Albuty: Saudi Arabia is a Global Destination for Real Estate Investment, and NHC is Leading the Sector with a Land Portfolio Exceeding 284 Million Square Meters
Aerial View of a Vibrant NHC Residential Community Modern Green Walkway in a National Housing Community RIYADH, Saudi Arabia, June 05, 2025 (GLOBE NEWSWIRE) -- Mr. Mohammed Albuty, CEO of the National Housing Company (NHC), affirmed that Saudi Arabia is undergoing a significant transformation in the real estate sector, driven by the objectives of Saudi Vision 2030. He emphasized that NHC is at the forefront of this transformation as the region's largest real estate developer and the executive arm of the public sector. Albuty's remarks came during his participation at the 'Capitals London' event, held alongside the Cityscape Global Exhibition, where he highlighted that NHC has played a key role in the success of raising the homeownership rate among Saudi citizens to 65% one year ahead of schedule, and aims to reach 70% by 2030. This progress has been fueled by the development of more than 600,000 residential units, half of which are expected to be completed by the end of 2025. He added that the company is currently managing 39 high-profile projects across 17 cities in Saudi Arabia, with total investments exceeding $154 billion. To date, over 100,000 residential units have been sold through off-plan sales. NHC also manages a land portfolio in the Kingdom spanning more than 284 million square meters. Albuty emphasized that enhancing quality of life is a core pillar of the company's strategic plans. Sustainability principles are embedded across all stages of development, from planning and design to material selection and community management. NHC aims to reduce commuting times, provide interactive public spaces, promote healthy lifestyles that strengthen social bonds and a sense of belonging, and dedicate vast areas to green spaces. Albuty also noted that NHC has successfully attracted international developers with direct investments exceeding $10 billion, through strategic partnerships with global real estate firms. Key partners include K. Hovnanian from the United States, Urbas from Spain, TMG from Egypt, CITIC Group from China, Emlak Konut from Turkey, and Kooheji from Bahrain. These partnerships encompass the development of major residential projects, in addition to collaboration with CITIC in areas such as supporting industries, logistics zones, and supply chains to enhance local content. Mr. Mohammad Albuty concluded his statement by affirming that the Saudi real estate market is gaining increasing confidence from investors around the world. He emphasized that NHC is moving forward with a clear vision to become the main driver of real estate growth, contributing to the development of integrated cities that reflect customer aspirations and support the objectives of Saudi Vision 2030. Photos accompanying this announcement are available at: CONTACT: Legends PR Email: PR@ Phone: +966-5030-78111 Website: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
