Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.
National Housing Company to drive $8.53 billion into Saudi Arabia’s economy, adding 233,000 jobs

National Housing Company to drive $8.53 billion into Saudi Arabia’s economy, adding 233,000 jobs

Posted on November 5, 2024   |  

This year, Saudi Arabia's National Housing Company (NHC) achieved record sales by providing products that meet the needs of the Saudi market, despite high interest rates.

NHC plans to supply 300,000 housing units by the end of next year and has already reached its target of 150,000 units.

NHC has developed an off-plan sales model that requires 3 to 4 years for delivery, which has been gaining popularity.

NHC has delivered around 45,000 units and sold more than 75,000 units.

Next year, NHC expects to create 233,000 jobs, contributing one out of every 69 new jobs in Saudi Arabia’s economy.

The company anticipates adding over $8.52 billion (SAR32 billion) to the Saudi economy next year, accounting for nearly 9% of the construction sector.

NHC's initiatives reflect its important role in driving growth in Saudi Arabia’s housing market and economy.



Previous Next