NHC sees 100% real estate reservations surge in November

National Housing Co. (NHC) reported a 100% surge in reservations for the offered real estate last November, compared to the same period in 2022, in line with the company’s plans and strategies for introducing several large-scale housing projects, state-run SPA reported, citing a company statement issued today, Dec. 4. 

The objective is to strike a balance between population growth and rapid urban development, which led to heightened demand for housing. This is besides increasing the real estate supply to address this demand, following a sustainable urban development approach. 

In its statement, the company revealed that total reservations amounted to 12,503 in November, up from 5,931 in the same month last year. 

Residential units were sold at competitive prices starting from SAR 250,000 each, compared to 2022 prices, when the lowest contract value was SAR 321,000 per housing unit, the company further noted. 

The significant increase in reservations was attributed to the launch of several housing projects in various regions, catering to the needs of all cities, including those with high population density.