Riyadh - Sharikat Mubasher: The Saudi-based National Housing Company (NHC) signed a cooperation agreement with China’s CITIC Construction Group to boost building materials supply in the Kingdom, the company announced in a statement.
The agreement was signed during the official visit of Minister of Municipal, Rural Affairs, and Housing Majed Al-Hogail to China in the presence of Mohammed Albuty, CEO of NHC.
Under the agreement, both parties will join efforts to establish an industrial city and logistics zones for building materials, including 12 factories.
This agreement came as part of NHC’s efforts to secure supply chains for its housing projects.
Leveraging Chinese expertise, the project aims to attract prime service providers across various sectors of the NHC, its subsidiaries, and other projects.
This collaboration is expected to facilitate the expansion of small and medium factories in the Kingdom, foster the growth of the local industry, and create numerous job opportunities in the sector.
Moreover, the agreement is forecasted to maximize the economic and developmental impact of the real estate sector in the Kingdom, develop housing projects, and boost national transformation in the construction sector.
