NHC and CITIC Construction Group Forge Strategic Partnership

Saudi Arabia's real estate sector is abuzz with preparations for the upcoming Real Estate Supply Chain Forum in Riyadh. Organized by the National Housing Co. and supported by Minister Majid bin Abdullah Al-Hogail, this event, scheduled for May 20-21 at the JW Marriot Hotel Riyadh, aims to foster collaboration and forge partnerships within the industry.

The forum will serve as a platform for local and international companies, consultants, contractors, and manufacturers to explore joint ventures in delivering high-quality and affordable housing projects. It seeks to highlight investment opportunities, facilitate the signing of agreements, establish industry benchmarks, and introduce innovative solutions for real estate development.

One of the key highlights of the event will be the unveiling of recent agreements between the NHC and various local and global partners to secure supply chains. Dialogue sessions will focus on advancements in building materials industries, promoting knowledge sharing between domestic and international players to strengthen the supply chain network.

Prior to the forum, the NHC signed a significant agreement with CITIC Construction Group of China to develop an industrial city and logistic zones for building materials. This collaboration involves the establishment of 12 factories to ensure a consistent supply chain for the NHC's housing projects. The partnership underscores the company's dedication to timely project completion and adherence to high-quality standards.

The agreement with the Chinese construction group represents a strategic initiative by the NHC to enhance its housing projects' supply chains by leveraging Chinese expertise and involving local factories to improve operational efficiency. It also aims to attract leading service providers across different sectors, subsidiaries, and projects, with the overarching objective of maximizing the economic and developmental impact of the real estate sector in Saudi Arabia.

The Real Estate Supply Chain Forum in Riyadh is poised to be a pivotal event for Saudi real estate companies, offering a platform for collaboration, innovation, and partnership building. By focusing on strengthening supply chains and fostering industry connections, the forum aims to drive growth and excellence in the real estate sector, ultimately benefiting the economy and society at large.