Arab News Headlines

NHC Signs 20 Investment Agreements at Real Estate Supply Chains Forum

Riyadh: The National Housing Company (NHC), on the sidelines of the Real Estate Supply Chains Forum, signed 20 agreements with local and international companies on investing in industrial and logistics zones to secure supply chains in the building and construction sector.

The NHC signed agreements with Al Zamil Industry, Trade and Transport Company, Bravat Mena, RAK Ceramics P.J.S.C, Zhejiang Tata Home Sale Co. Ltd, Zhejiang Jiashiyibao Board Co Ltd, and Wuhu COZY Residential Equipment Co. Ltd, to establish factories in the Industrial City and provide logistics services that can contribute to securing supply chains.

Through the Industrial City, NHC seeks to attract investments with major foreign factories in the Kingdom and localize them to secure supply chains for the company’s projects and its subsidiaries, and to ensure their implementation with high quality by benefiting from Chinese expertise in addition to the entry of a number of local factories.

The agreements come as an extension of the strategic
partnership with the Chinese CITIC Group to establish an industrial city and logistics zones, and to contribute to securing construction materials that will facilitate the process of handing over projects to contractors and developers and will also contribute to reducing the costs of constructing residential units.

Source: Saudi Press Agency