The CEO of the National Housing Company (NHC) affirmed that the company has successfully formulated and presented a unique Saudi model in the real estate development sector, combining authentic local identity with the latest international best practices in the field. He pointed out that this achievement was not accidental, but rather the result of in-depth strategic planning aimed at elevating the concept of housing in the Kingdom of Saudi Arabia.
Vision 2030 and Housing Targets
This statement comes in the context of the major transformations taking place in the Kingdom's housing sector under the umbrella of Saudi Vision 2030. The National Housing Company plays a pivotal role as the investment arm of the Ministry of Municipal and Rural Affairs and Housing in achieving the objectives of the housing program, most notably raising the rate of homeownership among citizens to 70% by 2030. The company has worked to translate this vision by supplying a huge and diverse real estate market that meets the aspirations of different segments of society.
Quality of life and integrated communities
The model the CEO referred to goes beyond simply building residential units; it encompasses the concept of "quality of life." The company's current strategy focuses on developing fully integrated residential communities and suburbs. These communities, such as Khuzam and Al Fursan, feature sustainable urban planning, abundant green spaces, safe pedestrian walkways, and educational, healthcare, and commercial facilities, creating a vibrant environment that fosters social connections and provides a modern lifestyle.
Economic impact and international partnerships
On the economic front, this model has contributed to boosting non-oil GDP by stimulating the construction and building materials sectors and creating thousands of job opportunities for young Saudis. The National Housing Company has also been keen to establish strategic partnerships with major international and local real estate developers and supply chains to ensure the application of the highest standards of quality and sustainability in construction and the localization of modern building technologies. This has made the Saudi experience a model for many countries in the region seeking to benefit from this radical transformation in housing management.
