RIYADH: Saudi Arabia’s National Housing Co. reported a fourfold increase in residential sales for the first half of the year, reaching SR13.5 billion ($3.59 billion), with over 13,000 units sold.
This growth, highlighted by a significant performance boost compared to the same period last year, underscores NHC’s success in addressing rising housing demand across the Kingdom, the Saudi Press Agency reported.
The company’s focus on integrated urban development aligns with Saudi Arabia’s Vision 2030 goals, particularly the objective to increase homeownership to 70 percent.
This comes as the Kingdom experienced a 38 percent increase in real estate transactions in the first half of the year, totaling 106,700 deals worth approximately SR127.3 billion, according to a report released by Knight Frank.
The London-based property consultant said that residential transactions comprised 61 percent of this total, with sales rising 41 percent to nearly 91,860 units. The value of these residential transactions grew by 48 percent to SR77.6 billion.
NHC’s projects aim to provide a balanced lifestyle with residential, social, recreational, and health amenities in single communities. The company focuses on sustainable urban planning, including green spaces and pedestrian-friendly pathways.
These developments are supported by financing options that cater to different economic segments.
The central region, notably Riyadh, drove much of the growth, with major projects like Khazam and Al-Fursan suburbs, the Al-Asalah district, and the Dana Al-Mashreqiya project accounting for 7,000 units sold, valued at SR8 billion.
This strong market response underscores the growing interest in new urban projects in the capital.
In the western region, which includes Jeddah, Makkah, and Madinah, sales reached 4,799 units, nearly double last year’s figure.
This growth was driven by the launch of several key projects, including developments in the Sedayem suburb, the Makkah Gate suburb, and the Al-Sadn district.
The Eastern Province also saw strong performance, with 1,599 units sold in Al-Wajha and Qamra districts, marking a doubling of contract growth from the previous year.
Established in 2017, NHC supports the Ministry of Municipalities and Housing by providing services that aim to streamline project completion and boost investment in the sector.
As a key player in Saudi Arabia’s real estate sector, NHC is shaping the country’s urban development.
The company plans to deliver over 300,000 housing units across nine suburbs and six residential communities by the end of 2025.
These projects will span more than 100 million sq. meters and are expected to house over 1.5 million people.
Aligned with Vision 2030, NHC is also working to improve supply chains with sustainable, high-quality construction materials, ensuring its projects meet international standards and support broader economic and social goals.
