RIYADH: In an effort to enhance the electricity infrastructure in its residential projects, Saudi Arabia’s National Housing Co. has announced a strategic partnership with the private sector to establish electrical stations in Riyadh and Jeddah.
NHC has received approval for the construction of electrical stations in three massive projects, which will cater to over 11,700 housing units.
By optimizing the operation of the electricity system, this initiative will deliver a seamless and efficient power supply to meet the needs of residents in these developments.
The collaboration with the private sector aims to improve the electricity system and provide high-quality services to communities.
As one of the leading entities in Saudi Arabia’s real estate development sector, NHC is committed to delivering its housing units to beneficiaries upon completion and is working to expedite the handing over of the remaining units.
It is striving to meet the objectives of Vision 2030’s housing program which aims to increase the rate of home ownership from 47 percent in 2016 to 70 percent in 2030.
In May, NHC and the Saudi Contractors Authority signed a memorandum of understanding during the Future Projects Forum in Riyadh to develop a platform to enhance cooperation and efficiency.
Under the agreement, both parties will organize joint workshops to identify areas of cooperation to ensure high-quality service.
The deal seeks to empower Saudi companies to contribute to the localization of the contracting sector and enable small and medium enterprises to find solutions to overcome challenges faced by the real estate market.
In January, Majid Al-Hogail, the Saudi minister of housing and municipal and rural affairs, also launched NHC’s online platform to connect contractors and real estate developers with government-approved suppliers of building materials.
The platform provides low-cost access to different building materials with the goal of enhancing production efficiency, lowering the cost of housing units and promoting house ownership.
