National Housing Company completes the handover of the Tabuk Valley 1 project in full
The National Housing Company (NHC), the investment arm of the Ministry of Municipal and Rural Affairs and Housing in the Kingdom of Saudi Arabia, announced a new milestone in its track record in the real estate development sector: the completion and handover of the “Tabuk Valley 1” project in the Tabuk region. This announcement is a culmination of the company’s ongoing efforts to accelerate homeownership and provide diverse housing options that meet the aspirations of Saudi families.
The Tabuk Valley 1 project stands out as a model for integrated residential communities, a hallmark of the National Housing Company's development. Designed to provide residents with a high quality of life, the destination boasts advanced infrastructure, comprehensive service and recreational facilities, and green spaces that contribute to a healthy and sustainable environment. The residential units are designed to blend modern style with local architectural identity, ensuring privacy and comfort for residents.
The role of the National Housing Authority in enhancing the real estate supply
This achievement is part of the National Housing Company's strategy to increase the supply of real estate across the Kingdom. As the primary enabler of the real estate development sector, the company is working to inject thousands of housing units into the market, contributing to balancing supply and demand and stabilizing prices. NHC utilizes the latest construction technologies in its projects to ensure rapid completion while maintaining the highest standards of quality and sustainability.
Keeping pace with the goals of the Kingdom's Vision 2030
The completion of the delivery of “Tabuk Valley 1” falls within the broader context of the Housing Program, one of the programs of the Kingdom’s Vision 2030, which aims to raise the percentage of citizens owning homes to 70% by 2030. The projects developed by the National Housing Company play a pivotal role in achieving this target by providing affordable and subsidized housing solutions, in partnership with the private sector and qualified real estate developers.
The strategic importance of the Tabuk region
This project is of particular importance given its location in the Tabuk region, which is experiencing unprecedented economic and developmental growth, coinciding with surrounding mega-projects such as NEOM and the Red Sea Project. Providing high-quality housing units in this area not only serves the current population but also contributes to attracting skilled workers and supporting the anticipated population and economic growth in the northwestern region of the Kingdom. This achievement underscores the National Housing Company's commitment to providing all regions of the Kingdom with housing options befitting Saudi citizens.
