Mohammed bin Saleh Al-Batti, CEO of National Housing Company (NHC), revealed the company's ambitious plans in 2025, including the launch of projects worth more than SAR 70 billion, reflecting the huge expansion of its activities and its impact on the real estate sector in the Kingdom.
During his participation in a panel discussion at the Future of Real Estate Forum in Riyadh. During his participation in a panel discussion at the Future of Real Estate Forum in Riyadh, Al-Batti explained that 50% of the targeted real estate supply for 2025 will be in Riyadh, with more than 70,000 housing units in the city, reinforcing its position as a major center for urban development.
Al-Batti pointed out that the company has ambitious plans for 2025, including the launch of projects exceeding 70 billion riyals. <Al-Batti pointed out that the company National Housing has played a pivotal role over the past seven years in achieving the goals of Saudi Vision 2030, especially in raising the ownership rate of Saudi families. The company aims to pump 300,000 housing units by the end of 2025, with the figure doubling to 600,000 units by 2030.
Al Batti added. <Al-Batti added that the company focused on improving the customer's experience in the ownership journey and making it easier by reducing the required steps, pointing to its major role in qualifying real estate developers. He emphasized that the company captured 62% of the off-plan sales market in 2024, and provided competitive housing opportunities with prices starting from 375,000 riyals, with more than 20,000 housing units in major cities at prices below 450,000 riyals.
Al Batti added that the company focused on improving the customer's experience in the ownership journey and making it easy by minimizing the required steps, noting its great role in qualifying real estate developers. In terms of financing projects, Al Batti stressed that the off-plan sales program is the main and most efficient means, providing low-cost financing for beneficiaries and developers alike.
Al Batti also pointed out that the value of the off-plan sales program is the main and most efficient means of financing. <He also pointed out that the value of the investment portfolio of the company and its partners will exceed 200 billion riyals by the end of 2025. He pointed out that the total sales of real estate units in the Kingdom reached about 27 billion riyals during 2024, reflecting the continuous growth in the real estate sector and the company's prominent role in achieving this growth.
He explained that the performance of sales operations for 2024 was exceptional, as the company was able to fully finance its projects from the proceeds of off-plan sales without the need for any external financing, while commercial projects are financed through real estate funds and contributions, which so far amounted to 5 real estate funds worth 10 billion riyals.
He pointed out that the total sales of real estate units in the Kingdom during the year 2024 is about 27 billion riyals. He added that NHC will launch projects that provide 140,000 housing units, 70,000 of them in Riyadh city at competitive prices that are 20% lower than prices in nearby neighborhoods, and that this injection will directly contribute to meeting the growing demand for housing in the capital, making 2025 full of opportunities for both investors and buyers.
Al Batti said that the development will be funded through real estate funds and contributions, as it has reached 5 real estate funds worth 10 billion riyals. Al-Batti said that the current development does not target a specific group, but rather, urban destinations are being developed with million spaces in various areas for all segments of society, with the importance of utilizing advanced data to study the market and understand the needs of new generations, which contributes to developing destinations that keep pace with demand and meet everyone's aspirations.
He added that the company is not limited to selling residential units, but works to sustain its business through the development of commercial, residential and investment projects, including one million square meters of commercial spaces that are currently being worked on, including major projects such as Al Habib Hospital and the Specialized Medical Center.
The CEO revealed that the company is not limited to selling residential units, but works to sustain its business through the development of commercial, residential and investment projects, including one million square meters of commercial space. The CEO revealed that the company is addressing challenges in the supply chains of building materials and contractors in light of the increase in the size and magnitude of projects, by establishing logistical and industrial areas close to its major destinations in cooperation with local and international partners, to ensure the availability of materials on time and at reasonable prices, pointing out the company's keenness to achieve its target of reaching 600,000 housing units by 2030, with plans to expand regionally.
With plans to expand regionally.
