During the official visit of His Excellency the Minister of Municipal and Rural Affairs and Housing, Chairman of the Housing Program Committee, Mr. Majid bin Abdullah Al-Hogail, to the People’s Republic of China, the National Housing Company “NHC” signed a cooperation agreement with the Chinese construction group CITIC to establish an industrial city and logistics zones for building materials that includes 12 factories, with the aim of securing supply chains for housing projects. The company was represented at the signing ceremony by CEO Mohammed bin Saleh Al-Bati.
The company explained that the cooperation agreements with the Chinese construction group CITIC come within the framework of the National Housing Company’s efforts to secure the supply chains of its housing projects, and to ensure their implementation on time and with high quality, by attracting 12 of the largest factories specializing in building materials and benefiting from Chinese experiences, in addition to the entry of a number of local factories to raise the level of business and attract the best service providers for the various sectors of the company and its subsidiaries, and other projects according to the highest international standards.
The National Housing Company indicated that the agreement will contribute to maximizing the economic and developmental impact of the real estate sector in the Kingdom, developing and improving the quality of housing projects, and enhancing the national transformation in the construction sector through these industrial cities and logistics zones that will serve Chinese factories to localize the building materials industry, which will give local medium and small factories room to expand, and will also help to provide direct production lines for the company’s projects, in addition to developing the local building materials industry and providing more opportunities in the sector, and providing job opportunities in the fields of construction. The agreement also aims to raise the quality of housing unit products in construction works.
It is worth noting that the agreement comes as an extension of the comprehensive strategic partnership agreement between the Kingdom of Saudi Arabia and the People’s Republic of China, which was signed during the Chinese President’s visit to the Kingdom in December 2022, and included among its provisions a work plan to activate the provisions of the memorandum of cooperation in the field of housing.
To attract quality investments that contribute to localizing industry and raising the efficiency and quality of our projects, we signed an agreement in Beijing, the capital of China, with the Chinese CITIC Group to establish an industrial city and logistics zones for building materials, ensuring secure supply chains for the # National Housing Projects. pic.twitter.com/d0eI6hjiPL
- NHC (@SaudiNHC) May 5, 2024
