With the signing of an agreement between Saudi National Housing Company and China Machinery and Equipment Engineering Corporation to build 20000 apartments in Saudi Arabia, residential supply will improve.

According to the Saudi news agency, a recent agreement signed in Beijing involves two companies working together to build apartments in the suburbs and residential areas of Saudi Arabia, more effectively addressing housing needs and benefiting individuals and families directly.

This agreement was signed during the official visit of Majid Hogel, Minister of Urban and Rural Affairs and Housing and Chairman of the Housing Planning Committee, to China. It is part of a broader effort to achieve housing planning goals - one of the Kingdom's 2030 Vision Plans. The plan aims to collaborate with leading global companies to attract international investment in the real estate sector.CEO Mohammed Al Buty attended the signing ceremony on behalf of NHC.According to SPA reports, the company emphasized that this agreement supplements its qualitative projects with major global construction companies. It added that this measure will be implemented in various areas of suburban and urban communities under the jurisdiction of the National Health Commission, featuring comprehensive facilities and services, including health, education, commerce, and public services.

NHC is one of the largest real estate companies in the Middle East, with the goal of developing housing communities and improving living spaces in the Kingdom of Saudi Arabia by creating nine integrated residential suburbs and delivering 300000 units by the end of 2025. The company plans to implement urban integrated projects at the highest standards at affordable prices and enhance the sustainability of residential projects in various regions of Saudi Arabia.

The Kingdom of Saudi Arabia aims to enhance the services provided to its citizens and unify all efforts of various departments to achieve housing plan goals that align with the country's 2030 vision. This is part of its efforts to increase the Saudi household housing ownership rate to 70%.

Last week, the National Health Commission signed an agreement with China CITIC Construction Group to build an industrial city and a building materials logistics area. The project will include 12 factories aimed at ensuring the supply chain security of the Saudi company's housing project.

The National Health Commission stated in a statement that the agreement with China State Construction Corporation is part of its efforts to ensure the supply chain of housing projects and to ensure timely completion and high quality.

This Saudi company stated that the transaction involves the construction of 12 factories specializing in the production of building materials, utilizing Chinese expertise, and improving the business standards of local factories. The company added that the agreement also aims to attract top service providers from various company departments, subsidiaries, and other projects.Editor/XuNing