The aim is to create an industrial city and logistics zones, housing 12 factories, in Saudi Arabia
The National Housing Company (NHC) has signed a cooperation agreement with China’s CITIC Construction to establish an industrial city and logistics zones for building materials, comprising 12 factories in Saudi Arabia, to secure supply chains for residential projects. The agreement was signed during the official visit of Minister of Municipal, Rural Affairs and Housing Majed bin Abdullah Al-Hogail to China in the presence of the CEO of NHC, Mohammed bin Saleh Albuty.
The cooperation agreement with CITIC Construction is a testament to NHC’s commitment to secure supply chains for its residential projects, ensuring their timely implementation with uncompromising quality. The project is set to attract 12 factories from major specialized manufacturers of building materials, who will benefit from Chinese experiences.
This collaboration also opens doors for several local factories to enhance their operations and attract the best service providers for various sectors of the company, its subsidiaries, and other projects, all while adhering to the highest international standards.
The agreement between NHC and CITIC Construction is not just a business deal, but a catalyst for change. It is poised to maximize the economic and developmental impact of the real estate sector in the Kingdom, while also elevating the quality of residential projects. This partnership is a key driver in the national transformation of the construction sector, leveraging industrial cities and logistics zones to localize the building materials industry.
These facilities will not only provide opportunities for medium and small local factories to expand but also help provide direct production lines for the company’s projects, fostering the growth of the local building materials industry and creating more opportunities in the sector.
The agreement aims to improve the quality of housing unit products in construction works, extending the comprehensive strategic partnership agreement between Saudi Arabia and China. The partnership agreement was signed during the Chinese President’s visit to Saudi Arabia in December 2022. It includes an action plan to activate the provisions of a memorandum of cooperation between Saudi Arabia and China in the housing field.