Vince Molinari welcomes Mohammad Albuty, the CEO of the National Housing Company (NHC), the largest real estate developer in Saudi Arabia to discuss the rapid growth of NHC since its establishment in mid-2017 as part of Saudi Arabia’s Vision 2030 initiative, which aims to increase home ownership from 47% to 70%. NHC has already achieved a home ownership rate of 65% ahead of the 2025 target.
Mohammad shares insights into NHC’s role as a master developer, focusing on creating livable communities rather than just developing land. With operations in 17 cities and a target to supply 300,000 housing units by the end of the year, NHC has already sold over 137,000 units, with a current portfolio valued at approximately 250 billion Saudi Riyals. By 2030, they aim to reach half a trillion Saudi Riyals in residential investments.
They also explore NHC’s innovative approach to integrating advanced technologies and data analytics into their operations, enhancing everything from master planning to marketing. Their partnership with South Korea’s Naver highlights their commitment to developing smart cities and data centers.