The company announces the signing of nine strategic agreements during the first day of Cityscape Global in Riyadh
Saudi Arabia’s top real estate developer introduced its new identity as NHC at Cityscape Global yesterday. The company also shared its vision as Saudi Arabia continues to grow rapidly in urban development.
Standing out with a major booth at the expanded event in Riyadh, NHC—formerly the National Housing Company—also revealed its new motto, “Elevating Life”. This motto highlights the company’s goal to improve quality of life by creating well-designed communities with green spaces and social activities.
How Will NHC’s new branding appeal to investors?
Chief Executive Mohammed Albuty told The National, “We are creating destinations that become the first choice for anyone looking to buy or sell homes.”
“This increases the demand for our properties, and in 2024, we achieved a record in sales. We expect even more growth in 2025,” he added.
Mr. Albuty confirmed that NHC holds the largest market share in Saudi Arabia as a real estate developer selling end units. The company also owns 62% of the market in off-plan projects. “We plan to grow and expand this market soon,” he said.
The positive announcements came as NHC signed nine strategic agreements on the first day of Cityscape. These partnerships aim to improve infrastructure and housing projects across Saudi Arabia by working with top local and international companies. They will use the latest technology and eco-friendly solutions to support sustainable development in NHC’s urban projects.
NHC also announced its biggest project yet: a large non-residential development worth 10.5 billion Saudi riyals ($2.79 billion). This project includes medical facilities and mixed-use spaces.
At Cityscape, NHC showcased its vision for large urban areas that “redefine living.” The company’s new slogan, “Elevating Life”, shows its dedication to offering unique and inclusive opportunities that enhance daily life for Saudi citizens and residents.
The new identity focuses on providing a “rich living experience” through careful planning and offering essential services and amenities nearby, such as shopping centers, green areas, and connected pathways. This reflects NHC’s core values of “ambition, inclusiveness, and reliability.”
This message aligns with Cityscape Global’s 2024 theme, “The Future of Living,” and other event segments like stadiums, sustainable smart cities, hotel developments, and advanced construction technologies.
The busy exhibition halls highlight an exciting time for Saudi real estate, with NHC leading strong market growth and attracting investors.
Last year’s Saudi government Annual Report on the Housing Programme showed that 63.74% of Saudi households owned a home by the end of 2023, an increase of 16.7 percentage points since 2016.
As part of Vision 2030, Saudi Arabia aims to increase homeownership to 70% by the end of the decade. The real estate market is now open to non-Saudi and foreign investors.
NHC offers a wide range of living options to fit different tastes and budgets, from new apartments to family villas.
Mr. Albuty emphasized that NHC is selling “for Saudis, non-Saudis, and for all.”
“We have everything needed for integrated communities. This kind of development makes these communities attractive and destinations for everyone,” he said.
“We are major contributors to increasing homeownership among Saudi families. In 2016, ownership was 47%. Now, with our transformation, it has reached almost 64%, so we are on the right path to achieve Saudi Arabia’s homeownership vision.”
“We also need a mix of residents and clients in these communities to make them appealing for everyone,” he continued. “This ensures different segments are happy.”
Mr. Albuty also explained why international buyers should invest in Saudi Arabia.
“When we travel abroad, many people talk about the changes happening in Saudi Arabia and its huge transformation,” he said. “There are massive investments and lots of activities, so investors are now really looking into the Saudi market.”
“For investors and foreigners, our destinations meet living standards beyond their expectations. Our prices are still great for investors and non-Saudis. Our locations are ideal for foreigners.”
“Considering price, location, development, living standards, community quality, and the Saudi economy—the demand in Saudi Arabia—most investors will benefit from investing here,” he added.
Mr. Albuty continued, “Each country has its own market and demand. Our market is large and dynamic, and our offerings are unique. We design our products and communities based on these dynamics.”
This includes large projects shown at Cityscape Global, such as NHC’s third phase of Khuzam in Riyadh, featuring a 7km ‘spine’ of parkland.
“It is bigger than Central Park and Hyde Park, unique, accessible, and a safe path for all residents,” said Mr. Albuty. “This location will be one of the best and one of a kind.”
With Cityscape Global highlighting Saudi Arabia over four days, NHC emphasizes its strong credentials, including building a solid supply chain that drives progress in a fast-growing market and delivering “exceptional projects” to meet consumer needs and provide long-term investments.
“We want international partners to see what we are doing within NHC and the country’s development. We are looking for investors to invest here and for others to live in Saudi Arabia,” he said. “We are ready to meet their quality and expectations. Once you feel at home in Saudi Arabia, you will invest in it, live here, and enjoy your life.”
With about 284 million square meters available for development, NHC has driven the domestic real estate scene and remains optimistic about the future.
“It is very exciting to develop these projects,” Mr. Albuty added. “People are living and enjoying these developments.”
“This transformation of the entire kingdom makes everyone happy and eager to do more, provide for the community, and enhance people’s lives.”
