NHC unveils plans for affordable housing schemes

Saudi Arabia’s National Housing Co. has announced two new developments in Riyadh and Jeddah as the Kingdom’s affordable housing program expands.

NHC is the investment arm of the Ministry of Housing, established as part of the Kingdom’s Vision 2030 framework to deliver affordable housing for Saudi nationals.

The “Rawa”/Riwaa scheme, which will form part of the suburb of Al-Jawan in Riyadh, will provide more than 1,000 villas and townhouse developments on an area of more than 780,000 square meters.

Prices for homes on the development will start from SR764,000 ($203,717).

The “Mela”/Maylaa development includes 819 villas and townhouses on a total area of more than 428,000 square meters within the residential suburb of Khayla located north of Jeddah governorate. Prices on the scheme

will start at SR748,000 each.

The “Asala Al-Jawan” project in Al-Jawan was formally launched by the NHC last month.

NHC’s current projects which support the real estate supply in the Kingdom total 107 under construction that provide more than 113,000 housing units, with a value of more than SR72 billion, in partnership with 71 qualified real estate developers, where projects are located in most regions of the Kingdom.

The company signed 10 agreements in the first quarter of this year that contributed to pumping more than 2,000 housing units, bringing the number by the end of the first half of 2021 to 18 agreements that resulted in supplying more than 12,000 housing units into

the market.