NHC sales hit SAR 13.5B in H1 2024

National Housing Co. (NHC) said its sales of residential units reached SAR 13.5 billion, with more than 13,000 houses sold in the first half of 2024, a four-fold spike compared to last year's sales volume, the Saudi Press Agency reported.

The Central Province accounted for most of this sales growth, as Khazam and Al-Fursan districts, Al-Assalah Community and Al-Mashriqiya project recorded combined sales of 7,000 residential units worth up to SAR 8 billion. This reflected the strong demand for new projects in Riyadh.

NHC added that urban projects in Jeddah, Makkah and Madinah have attracted several investors and individuals, logging sales of 4,799 housing units in the first half of 2024, compared to 2,500 in the same period last year.

This came as a result of the new project launches witnessed during the six-month period, several of which are situated in Sedayem district, Makkah Gate district and Al-Sadan Community.

NCH's Eastern Province projects saw a two-fold growth in contracts compared to last year. The region’s sales reached 1,599 housing units in Al-Wajha district and Qamra Community.

This uptick was driven by NHC's rollout of several urban projects across various Saudi provinces, in a bid to achieve the goals of Vision 2030 by raising the local homeownership rate to 70%.