‎NHC offers 123,000 housing units, sells 75,000 so far: CEO

‎NHC offers 123,000 housing units, sells 75,000 so far: CEO thumbnail

National Housing Co. (NHC) has so far offered 123,000 housing units for sale, of which 75,000 units have been sold, said CEO Mohammed Saleh Albuty.

He told Al-Arabiya TV today that the company is working on real estate development projects and the off-plan sales model, with a total investment volume of about SAR 100 billion over four years.

NHC is working on vast areas of lands that may reach more than 30 million square meters in some projects. It is setting the master plan for the project and it does not have a contracting arm and works with the private sector when implementing the infrastructure. Furthermore, NHC has a major role in financing the infrastructure to mitigate risks to developers, according to the top official.

Albuty also said that Prince Faisal bin Salman, Governor of Madinah Province, inaugurated two days ago a set of real estate development projects for the company, which is the largest in the history of Madinah. He added that NHC’s projects reached 20,000 housing units in the holy city, in addition to two new projects launched in addition to the existing ones.

NHC has signed agreements with nine developers, at new investments amounting to SAR 9 billion, thus bringing NHC’s total investments in Madinah to SAR 17 billion.

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