NHC signs contracts worth SAR 4.5 bln to develop housing projects in Dammam, Qatif

Logo of National Housing Co. (NHC)

National Housing Co. (NHC) signed today a number of agreements with a total investment of SAR 4.5 billion with Retal Urban Development Co., Dar, Emaar Investment and Real Estate Development Co., Tilal Real Estate Co., Sumou Real Estate Co., Maya Real Estate Development and Investment Co., and Tamkeen Real Estate Development Co., for the development of residential communities in Al-Wajeha Suburb and Qumra Community.

This came during the inauguration by Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province today of the projects of the second phase in Al-Wajeha Suburb in Dammam, and Qumra Community in Qatif Governorate, Saudi Press Agency reported.

Projects of the second phase of Al-Wajeha Suburb are one of the largest residential suburbs in the Kingdom, with an area of ​​more than nine million square meters.

It provides 5,400 housing units for more than 27,000 people, while the area of Qumra Community in Qatif Governorate exceeds 1.4 million square meters, providing more than 2,300 various housing units of various spaces and designs.

NHC invests in a number of housing projects in the Eastern Province, with a value of SAR 16 billion, and has exceeded 25,000 housing units of various designs and spaces, which comes as part of its keenness to increase the real estate supply and raise ownership percentage.