Saudi Arabia’s National Housing Company (NHC) has awarded a contract to China Machinery Engineering Corporation (CMEC) for the construction of 20,000 residential units. These will be built for key community projects throughout the Kingdom.
According to NHC, this agreement is one of several with major international construction companies. It will entail building different facilities, including medical care establishments, schools, and retail stores. The concept throughout is to create vibrant regional hubs with a full range of lifestyle amenities for residents.
The agreement was signed by National Housing Company CEO Mohammad Albuty, in the presence of Majid bin Abdullah Al Hogail, Minister of Municipal, Rural Affairs & Housing and Chairman of the Housing Program Committee, during his recent visit to Beijing, China.
The deal is part of NHC’s contribution to achieving the objectives of the Housing Program, envisaged in the Kingdom’s Vision 2030. The aim is to create a raft of partnerships with leading companies worldwide, in order to attract international investments in the highly-important real estate sector.
