Tilal Real Estate signs agreement with NHC to develop new housing project in Riyadh

Riyadh city

An alliance of three groups – Tamimi Group, Al Othman Holding and IKK Group – signed a partnership agreement with National Housing Co. (NHC) to develop a new housing project at Al-Jawan suburb, north of Riyadh.

The project will provide 580 villas and townhouses on an area of nearly 300,000 square meters (sqm), Saudi Press Agency reported.

Abdulrahman Al-Tawil, Deputy Minister for Real Estate Development, Ministry of Municipal and Rural Affairs and Housing, said the alliance aims to provide more housing units to contribute to raising housing ownership for Saudi families, in accordance with the objectives of Vision 2030. 

Meanwhile, Abdulrahman Albassam, CEO of Tilal, said this is the first development project of the alliance, with the aim of providing various housing options and increasing the housing supply to meet the aspirations of Saudi families.