National Housing Company (NHC) plans to take some of its companies public, including NHC Innovation, in a move aimed at expanding its business and strengthening its presence in the real estate market.
In remarks to Al Arabiya, Mohamed El Baty, CEO of National Housing Company (NHC), said that the company is witnessing a remarkable expansion in the field of real estate development, especially the development of urban destinations. <In exclusive statements to Al Arabiya, Mohammed Al Batti, CEO of National Housing Company, said that the company is witnessing a remarkable expansion in the field of real estate development, especially in the development of urban destinations. Al-Batti explained that the company recently launched “NHC Innovation,” which will be the company's digital arm in this field, which manages 10 real estate platforms with more than 20 million customers annually, achieving more than 500 million visits annually, with the number of operations exceeding 3 billion operations.
Batti revealed that the company is witnessing a remarkable expansion in the field of real estate development, especially in the development of urban destinations. Al-Batti also revealed that the company aims to pump 140,000 new housing units in the city of 2025, with half of these units to be in Riyadh and the other half in other major cities.
Al-Batti added that the company aims to pump 140,000 new housing units in the city of 2025. Al-Batti added that the company's board of directors decided to focus on the real estate sector as a vital priority, which called for the establishment of an independent company to provide electronic services that support customers in the residential and real estate sectors, in addition to the municipal sector.
Al-Batti added that the company's board of directors decided to focus on the real estate sector as a vital priority. <In terms of financial performance, Al-Batti noted that the company achieved record sales in 2024, amounting to SAR 27 billion, with the sale of 27,000 residential units, a figure that is unprecedented in the sector. He also emphasized that the company focuses on providing affordable housing units, with 20,000 housing units priced at less than 450,000 riyals. <In terms of securing supply chains, Al-Batti explained that the company is working with international and local partners to ensure that the materials needed for the projects are available on time and at reasonable prices. He also revealed the start of work on the first logistics zone in Riyadh, with plans to expand to other areas in the near future.
