JEDDAH: Saudi Arabia’s National Housing Co. signed a series of agreements to develop more than 24,000 housing units as part of a 100,000-home Saudi-Chinese plan aimed at expanding residential supply.
The deals were finalized during an Asian tour by Minister of Municipalities and Housing Majid bin Abdullah Al-Hogail, who visited China and South Korea to strengthen partnerships in housing, infrastructure, and smart cities, the Saudi Press Agency reported.
The agreements mark a new phase of collaboration between Saudi and Chinese developers under the 2030 framework, with a focus on modern construction technologies to speed up delivery and improve quality.
The projects fall within broader efforts to lift homeownership rates to 70 percent by 2030. The Kingdom reached 65.4 percent in 2024, surpassing its 2025 target a year early.
“Al-Hogail emphasized that the tour is part of a comprehensive approach to enhance cooperation with international partners in housing, infrastructure, and real estate technologies,” the SPA report stated.
