JEDDAH: Saudi Arabia’s National Housing Co. has been named the GCC’s top real estate developer for 2024, following SR13 billion ($3.47 billion) in sales during the first half of the year.
Construction Week Middle East’s report ranks the top 50 real estate developers in the GCC based on various criteria each company meets.
In a statement, NHC, a major player in the Middle East real estate sector, said that it executed 130 projects during this period in partnership with real estate developers across various regions in Saudi Arabia.
The company is dedicated to enhancing housing and living conditions with a focus on sustainability, ensuring that housing developments are environmentally friendly and future-proof across the Kingdom.
These initiatives align with Saudi Arabia’s broader mission to enhance services and unify efforts across various sectors to help families achieve homeownership, to raise the rate to 70 percent as part of Vision 2030.
As the largest enabler of the real estate development sector and the primary developer of suburbs and urban communities in the Kingdom, NHC manages nine suburbs and six residential districts, covering an area exceeding 100 million sq. meters.
By 2025, NHC plans to deliver 300,000 homes and establish nine thoughtfully designed residential suburbs, offering modern and connected communities, the company said.
It is also focused on ensuring high-quality supply chains and more sustainable construction materials, to increase the real estate supply with globally standardized housing options.
