Saudi state-backed National Housing Company (NHC) has signed an agreement with China State Construction Engineering Corporation (CSCEC) to build 20,000 housing units in suburbs and communities across the kingdom.

The projects are part of NHC’s initiative to build quality projects in coloration with global companies. 
 
The contract will also include developing health, educational, and commercial facilities.

Construction times and the total cost of development were not given.

Work is underway to develop more than 300,000 housing units worth more than 250 billion Saudi riyals ($66.65 billion) as part of NHC’s 2025 target.

In May, NHC signed a cooperation agreement with China’s CITIC Construction to establish an industrial city and logistics zones for building materials, comprising 12 factories in Saudi Arabia, to secure supply chains for residential projects.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa