NHC signs 30 agreements worth SAR 24 bln in Al-Fursan district

Logo of National Housing Co. (NHC)

National Housing Co. (NHC) signed 30 agreements, memorandums of understanding (MoUs) and consultancy contracts at a total investment exceeding SAR 24 billion with a number of real estate developers and companies on the sidelines of the launch ceremony of Al-Fursan district, the largest residential suburb in the Kingdom.

The agreements included 18 real estate development agreements for the first phase of the suburb, in partnership with several developers, including Retal Urban Development Co., Dar and Emaar Co. and Abdul Rahman Al-Rashed Co.

In addition, agreements were signed with Saudi Electricity Co. (SEC) to implement the detailed and executive plans for electrical works in the suburb, according to Saudi Press Agency.

Moreover, a number of MoUs were signed with Dr. Sulaiman Al Habib Medical Group, Cenomi Co., and Abdullah Al-Othaim Investment Co., to develop critical facilities, including hospitals, health centers, commercial, recreational, sports and community centers, mosques and schools.

During the inauguration ceremony, four consultancy contracts were signed to manage projects and supervise the implementation of the first phase of Al-Fursan district, as well as the implementation of comprehensive infrastructure works.

NHC inaugurated Al-Fursan district in Riyadh last week, with an area of more than 35 million square meters, with more than 50,000 housing units, according to Argaam's data.