The National Housing Co. (NHC) has committed to constructing 3,800 new homes through a series of agreements valued at SR2 billion ($533 million). These agreements involve collaboration with several prominent real estate developers and are set to transform the residential landscape in the Al-Asalah community, located in southwestern Riyadh. Home prices for this development will start at SR475,000.
This initiative is part of NHC’s broader urban development program, which aims to revolutionize housing in the region by introducing cutting-edge concepts and integrated services designed to enhance the quality of life for all societal sectors.
The partnership agreements were formalized at the Restatex Riyadh Real Estate Exhibition and include collaborations with notable developers such as Ratel Real Urban Development Co., Faisal Abdullah Bin Saedan Real Estate Investment and Development Co., Mohammad Al-Habib Real Estate Co., Maskan Real Estate Co., Shugan Real Estate Development Co., and Ishraqat Al-Tamayoz Real Estate Development Co. The signing event was attended by NHC CEO Mohammed bin Saleh Al-Batti and Abdulrahman Al-Tawil, the deputy minister of municipal and rural affairs for real estate development.
In addition to the partnership agreements, NHC has unveiled sales for three significant projects within the Al-Asalah community. These include Nesaj Town Al-Asalah, which covers 93,000 square meters and is developed in collaboration with Retal Company; the Malfa Al-Asalah project, spanning over 45,000 square meters, developed with Faisal Abdullah Bin Saidan Real Estate Investment and Development Co.; and the Ishraqat Al-Asalah project, created in partnership with Ishraqat Al-Tamayoz Real Estate Development Co.
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National Housing Co. Launches $533 Million Housing Project in Riyadh
The National Housing Co. (NHC) has announced a major housing initiative, committing to build 3,800 new homes through agreements totaling SR2 billion ($533 million). This significant development will take place in the Al-Asalah community, located in southwestern Riyadh, with prices starting from SR475,000.
The initiative is part of NHC’s comprehensive urban development program, which aims to revolutionize Riyadh’s housing market by integrating innovative concepts and services to improve overall quality of life.
The partnership agreements, signed during the Restatex Riyadh Real Estate Exhibition, involve collaborations with leading real estate developers including Ratel Real Urban Development Co., Faisal Abdullah Bin Saedan Real Estate Investment and Development Co., Mohammad Al-Habib Real Estate Co., Maskan Real Estate Co., Shugan Real Estate Development Co., and Ishraqat Al-Tamayoz Real Estate Development Co. The signing ceremony was attended by NHC CEO Mohammed bin Saleh Al-Batti and Abdulrahman Al-Tawil, the deputy minister of municipal and rural affairs for real estate development.
NHC also announced the launch of sales for three key projects within the Al-Asalah community. These include:
- Nesaj Town Al-Asalah: Covering 93,000 square meters, developed in partnership with Retal Company.
- Malfa Al-Asalah: Spanning over 45,000 square meters, in collaboration with Faisal Abdullah Bin Saidan Real Estate Investment and Development Co.
- Ishraqat Al-Asalah: Developed with Ishraqat Al-Tamayoz Real Estate Development Co.
This extensive project marks a significant step in enhancing the housing infrastructure in Riyadh and reflects NHC’s commitment to delivering high-quality, affordable residential solutions.
