The National Housing Company (NHC) has announced a major achievement in its sales of residential units during the first half of 2024, exceeding 13.5 billion riyals. This success is attributed to its successful projects across various regions of the Kingdom.
In the first half of 2024, NHC experienced a notable increase in sales, reaching over 13.5 billion riyals. This achievement reflects the effectiveness of its strategy in meeting the needs of citizens in different areas, with a focus on providing a comprehensive urban environment that enhances quality of life.
The Central Region, particularly in the Khuzam and Al-Fursan neighbourhoods, the Al-Asala Community, and the Dana Al-Mashreq Project, saw significant growth, with 7,000 residential units sold amounting to 8 billion riyals. This strong demand indicates the appeal of new projects in Riyadh.
Projects in Jeddah, Mecca, and Medina also garnered considerable interest, with sales reaching 4,799 residential units during the first half of 2024, compared to 2,500 units in the same period last year. This increase included projects in the Sudaym neighbourhood, Mecca Gate, and Al-Saddan Community.
In the Eastern Region, sales volume doubled compared to the previous year, with 1,599 residential units sold in the Al-Wajha neighbourhood and the Qamra Community. This rapid growth reflects the company's success in expanding its urban projects.
The exceptional growth in NHC's sales underscores its success in adopting a comprehensive development concept, offering an integrated environment that includes residential, social, and recreational aspects, while focusing on sustainable urban planning and increasing green spaces.
NHC plays a pivotal role in achieving Vision 2030 by delivering more than 300,000 residential units by the end of 2025 across 9 neighbourhoods and 6 residential communities. The company aims to increase the real estate supply with globally standardized housing options to meet Vision 2030 goals, which include raising the homeownership rate among Saudi families to 70%.
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