Saudi Arabia, China Extend Partnership in Construction Industry

Saudi Arabia’s National Housing Company (NHC) has recently inked a significant cooperation agreement with China’s CITIC Construction, marking a pivotal step in advancing industrial infrastructure and logistics zones within the kingdom.

The deal, signed during the visit of Saudi Arabia’s Municipal, Rural Affairs, and Housing Minister Majed bin Abdullah Al-Hogail to China, underscores NHC's commitment to bolstering the reliability of its supply chain for residential developments and ensuring their timely and high-quality completion.

Under the agreement, 12 specialized factories in building materials will be constructed, harnessing Chinese expertise while also engaging local factories to elevate business standards.

This collaborative effort aims to attract top-tier service providers across various sectors, thereby enhancing the overall efficiency and effectiveness of NHC and its subsidiary projects.

NHC anticipates that this partnership will have a significant economic and developmental impact on Saudi Arabia's real estate sector.

By fostering the development of housing projects and improving their quality through industrial cities and logistic zones, the agreement seeks to accelerate national transformation in the construction sector.

Source: Global Data