Saudi Arabia’s National Housing Company (NHC) has awarded a major contract to China State Construction Engineering Corporation (CSCEC) for building 20,000 residential units within the suburbs and communities being developed by the company across the kingdom.

These units will be of various sizes and designs and equipped with key amenities including healthcare, educational, commercial, and public service facilities to ensure a high quality of life for its residents, said the company.

According to NHC, this agreement is a part of its strategy to increase the real estate supply through strategic partnerships with major global companies. 

The agreement was signed by CEO Mohammed bin Saleh Al Buty and CSCEC’s President for the Middle East and Africa Region Gao Yu Chun, in the presence of the Minister of Municipal and Housing, Majid bin Abdullah Al Hogail.

This is an extension of the Saudi-Chinese partnership and builds on a series of pacts signed during the recent visit of Minister Al Hogail to China. There NHC signed agreements with CSCEC to establish an industrial and logistics city for building materials to secure supply chains for NHC suburbs and communities projects, it stated.

A pioneer in the real estate development sector and the largest primary developer of suburbs and urban communities in the kingdom, NHC has set an ambitious target to deliver more than 300,000 new housing units by the end of next year at a total investment of more than SR250 billion ($68 billion).