RIYADH: On the second day of Cityscape, Saudi Arabia’s National Housing Co. expanded its investment momentum by securing 21 new agreements and collaborations with both domestic and foreign businesses. According to a release, this raises the total value of the agreements the company inked on the first and second days of the event to approximately SR5 billion (1.33 billion).
According to the Saudi Press Agency, the agreements cover supply, logistics, and interior design and are intended to improve the standard of infrastructure and services offered within its metropolitan locations. The partnerships help NHC realize its goals of creating sustainable, integrated destinations that satisfy international standards.
With real estate supporting many other industries and accounting for about 7% of GDP, the Kingdom’s economy depends heavily on it. A strategic relationship between NHC and “Solutions by stc” to produce technical services for the “Sakani” and “Balady” platforms is one of the most notable agreements that support the solutions division. The Sakani Foundation will check structures, Ardara, a local real estate developer, will evaluate sustainability, LX and K-water enterprises will transmit knowledge, and 2GIS will give technical services.
To take advantage of Sakani services and evaluate sustainability, the firm signed an agreement with the Public Investment Fund’s ROSHN real estate company. In the professional accreditation program, NHC and Takamol also inked an agreement to create an integrated residential setting that satisfies the needs of both individuals and society.
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