NHC to construct 20k residential units in partnership with China Machinery Engineering Corp.
The Saudi National Housing Co. and China Machinery Engineering Corp. signed an agreement to build 20,000 units in the Kingdom.
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The Saudi National Housing Co. (NHC) has partnered with China Machinery Engineering Corp. to build 20,000 residential units, enhancing the housing supply in Saudi Arabia.
This collaboration was formalized in Beijing, where the two firms agreed to construct apartments primarily in suburban and residential zones throughout the Kingdom.
The partnership was cemented during the official trip of Majid Al-Hogail, the Saudi Minister of Municipal and Rural Affairs and Housing and Chairman of the Housing Program Committee, to China. This visit underscores the Kingdom’s commitment to the Housing Program, a pivotal component of Saudi Arabia’s Vision 2030 initiative.
The initiative seeks to draw international investment and establish ties with top global real estate firms. Mohammed Al-Buty, CEO of NHC, represented the company at the signing ceremony. NHC highlighted that this agreement is part of its broader strategy to collaborate with major global construction entities.
The project promises comprehensive urban and suburban community developments under NHC’s oversight, complete with essential services such as healthcare, education, and commercial facilities.
NHC, a leading real estate player in the Middle East, is set to develop nine residential suburbs, aiming to deliver 300,000 units by the end of 2025. These projects will meet high standards and affordability, while also focusing on sustainable living across Saudi Arabia.
This development aligns with the Kingdom’s objectives to boost the homeownership rate among Saudi families to 70% and integrate services across various sectors to meet the goals of the Housing Program aligned with Vision 2030.
Furthermore, NHC recently entered a contract with CITIC Construction Group from China to create an industrial city and logistic zones for building materials, including 12 factories. This move is aimed at reinforcing the supply chains essential for NHC’s housing projects, ensuring their timely execution and superior quality.
The agreement also aims to elevate the standards of local businesses by introducing advanced Chinese building technologies and attracting premier service providers to support the company’s extensive project portfolio and its subsidiaries.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
This collaboration will extend into the fourth phase of Azizi’s Riviera project in MBR City, with Cummins supplying top-tier power generators.
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Azizi Developments, a prominent private developer in the UAE, and Cummins Inc., a global leader in power solutions design, manufacturing, distribution, and supply, are extending their partnership into the fourth phase of the large-scale Riviera project. Cummins, known for its diverse range of products including diesel, natural gas, electric, and hybrid powertrains, as well as powertrain-related components, like filtration, after-treatment, turbochargers, fuel systems, control systems, air handling systems, automated transmissions, electric power generation systems, batteries, hydrogen generation, and fuel cell products. The manufacturer is globally renowned for its excellence in both innovation and sustainability.
Mr. Farhad Azizi, CEO of Azizi Developments, said: “As we continue our collaboration with Cummins Inc. for the fourth phase of our flagship project, Riviera, we reaffirm our commitment to procuring and utilizing only the highest quality materials. This partnership highlights our dedication to providing exceptional lifestyles for our investors and end-users through the careful selection of premium components. We are confident that our now-broadened alliance with Cummins Inc. will help in maintaining the high standards established for Riviera and further elevate the benchmarks of quality and excellence.”
Riviera is part of Azizi Developments’ award-winning portfolio. It is a stylish waterfront lifestyle destination that comprises 75 mid- and high-rise buildings with approximately 16,000 residences.
Designed to introduce the French-Mediterranean lifestyle to Dubai, which is not merely about architectural art, but also about a certain ‘joie de vivre’ — a celebration of life, an exultation of spirit, Riviera represents a new landmark destination that is both residential and commercial, with an abundance of retail space. Riviera features three districts: an extensive retail boulevard, a lagoon walk on the shores of its 2.7 km-long swimmable crystal lagoon with artisan eateries and boutiques, and Les Jardins — a vast, lush-green social space.
With its strategic location near the upcoming Meydan One Mall and the Meydan Racecourse — home of the Dubai World Cup — as well as Dubai’s most noteworthy points of interest, Riviera represents one of Azizi Developments’ most coveted projects.
Azizi Developments’ Sales Gallery can be visited on the 13th floor of the Conrad Hotel on Sheikh Zayed Road.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
