The agreement was signed during Saudi Arabia’s Municipal, Rural Affairs and Housing Minister Majed bin Abdullah Al-Hogail’s visit to China. Credit: National Housing.

Saudi Arabia’s National Housing Company (NHC) has signed a cooperation agreement with China’s CITIC Construction for an industrial city and logistics zones for building materials in Saudi Arabia.  

The agreement was signed during Saudi Arabia’s Municipal, Rural Affairs and Housing Minister Majed bin Abdullah Al-Hogail’s visit to China, with NHC CEO Mohammed bin Saleh Albuty in attendance. 

The collaboration with CITIC Construction aligns with NHC’s strategy to enhance supply chain reliability for its residential developments and ensure their high-quality, timely completion. 

The deal covers construction of 12 factories specialising in building materials, leveraging Chinese expertise and involving local factories to boost business standards.   

This agreement also aims to draw top-tier service providers across several seectors of the company, its subsidiaries, and other projects. 

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According to NHC, the agreement is expected to boost the economic and developmental impact of the real estate sector in Saudi, develop housing projects, improve their quality, and boost national transformation in the construction sector via these industrial cities and logistic zones. 

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Furthermore, the collaboration between NHC and CITIC will facilitate the expansion of small and medium factories in Saudi, develop direct production lines for NHC’s projects, promote the growth of the local industry, and create several job opportunities in the construction sector. 

This agreement extends the strategic partnership between Saudi Arabia and China, which was solidified during the Chinese President’s visit to Saudi in December 2022. 

Last month, NHC and Urbas Middle East Real Estate Company, a subsidiary of the Spanish Urbas group, reached a strategic partnership. 

This partnership involves construction of 589 residential units encompassing roughly 150,000m² and valued at approximately SR1bn.