Saudi Arabia's National Housing Company (NHC) has signed a sub-development agreement with Turkish company Emlak Konut to develop several allocated lands in the Makkah Gate Destination in the Saudi city at an investment value of over SAR1 billion ($266 million).

The agreement aims to develop allocated areas totalling 255,000 sq m within the Makkah Gate destination by constructing more than 1,000 residential villas in accordance with the highest standards of quality and modern urban design.

The deal was signed under the patronage of Minister of Municipalities and Housing Majed Al Hogail on the sidelines of NHC's participation as a founding partner in the Cityscape Global 2025 exhibition.

The agreement was signed by NHC Chief Executive Mohammed Albuty and Emlak Konut General Manager Yasir Yilmaz. 

The agreement is a significant step that strengthens the investment partnership between the Kingdom of Saudi Arabia and the Republic of Türkiye and reflects NHC's commitment to attracting leading international companies in the real-estate development sector.

The collaboration contributes to the exchange of expertise and the development of quality projects that enhance the quality of life and provide housing options meeting global standards.-TradeArabia News Service