Riyadh – Mubasher: Saudi Arabia’s National Housing Company (NHC) has inked 20 agreements with local and international companies on the sidelines of the Real Estate Supply Chains Forum.

The agreements are aimed at investing in industrial and logistics zones to secure supply chains in the construction sector, according to the Saudi Press Agency (SPA).

 The NHC has entered into agreements with Al Zamil Industry, Trade and Transport Company, Bravat Mena, RAK Ceramics, Zhejiang Tata Home Sale, Zhejiang Jiashiyibao Board, and Wuhu COZY Residential Equipment to establish factories in the Industrial City and enhance logistics services to bolster supply chains.

NHC aims to attract and localise investments from major foreign factories in the Industrial City to secure supply chains for its projects and subsidiaries.

This will ensure high-quality project execution by leveraging Chinese expertise and incorporating local factories.

These agreements are part of a strategic partnership with the Chinese CITIC Group to develop an industrial city and logistics zones. This initiative is designed to secure construction materials, streamline project handovers to contractors and developers, and reduce the costs of constructing residential units.

The Real Estate Supply Chain Forum 2024 was inaugurated on 20 May 2024 for two days. The event was attended by numerous officials from the public and private sectors, along with representatives from local and international companies.