<i><b>This page was produced by The National in partnership or collaboration with NHC of Saudi Arabia.</b></i> Saudi Arabia’s leading real estate developer affirmed its new identity as NHC during Cityscape Global yesterday - and outlined its vision as the country continues an unprecedented urban growth journey. Turning heads with a landmark stand at the expanded event in Riyadh, NHC - formerly the National Housing Company - also unveiled new motto “Elevating Life”, which it says supports the company's focus on enhancing quality of life through integrated communities and access to green spaces and social activities. So how does NHC anticipate this new branding and messaging will appeal to investors and impact investments going forward? Chief executive Mohammed Albuty told <i>The National</i>: “We are developing destinations to make them the first choice for anyone looking for units, to sell or to buy. “That creates demand for our units and in 2024 we have reached a record in terms of sales, and we expect more in 2025.” Mr Albuty confirmed NHC’s leading position in the Saudi market, including the largest market share as a real estate developer selling end units. The company also holds a 62 per cent market share in off-plan projects. “We are trying to expand and extend this market in the near future,” he said. The positive messages came as NHC announced the signing of nine strategic agreements during the first day of Cityscape. These collaborations are designed to enhance infrastructure and housing projects across Saudi Arabia by partnering with leading local and international companies and leveraging the latest technological and environmental solutions to promote sustainable development in NHC’s urban projects The company also made its biggest single announcement, a huge non-residential project - comprising a medical and mixed-use development - worth 10.5 billion Saudi riyals (US$2.79bn). NHC used Cityscape to display its vision for expansive urban spaces that “redefine living”. The developer said its slogan, ‘Elevating Life’, reflects its commitment to providing unique and inclusive opportunities that enhance daily lifestyles for Saudi citizens, and residents. The new identity, it explained, focuses on delivering a “rich living experience” through thoughtful planning and providing essential services and amenities within good proximity, such as shopping centres, green spaces, and interconnected pathways - and reflects NHC’s core values of “ambition, inclusiveness, and reliability”. That messaging together with NHC’s announcements sits well with Cityscape Global’s 2024 theme - ‘The Future of Living’ - and additional show segments including stadiums, sustainable smart cities, hotel development, and next-generation construction technologies. The packed exhibition halls emphasise a thrilling period for Saudi real estate, with NHC leading strong market progress while drawing all investors. Last year’s Saudi government's Annual Report of the Housing Programme reported the percentage of Saudi households owning a home reached 63.74 per cent at the end of 2023, up 16.7 per cent points compared to 2016. As part of Vision 2030, the country aims to increase homeownership to 70 per cent by decade-end. Meanwhile, the kingdom’s real estate market opened to non-Saudi, foreign investors. NHC offers a diverse range of living options, catering to various tastes and budgets, from new apartments to family villas. And Mr Albuty emphasised NHC was selling “for Saudis, non-Saudis, and for all”. “We have all the components for integrated communities…this kind of development makes those communities appealing, and destinations for all segments.” He continued: “We are one of the main contributors to increasing ownership by Saudi families. Homeownership in 2016 was 47 per cent, today, with the whole transformation … ownership has reached almost 64 per cent, so we are on the right track to achieve the Saudi vision for ownership. “At the same time, we have to have a mix of beneficiaries and clients within those communities. This makes those destinations more appealing for all, to have different segments.” And the NHC chief executive is clear about why international buyers should invest in Saudi Arabia. “When we travel outside, most people are talking a lot about what’s going on in Saudi, the huge transformation,” he said. “There are huge investments, a lot of activities going on, so investors now are really looking into the Saudi market. “Today, for investors, for foreigners, first our destinations meet standards of living even beyond the expectation of foreigners, our price is still great for investors, for non-Saudis … our locations are a good choice for foreigners. “In terms of price, location, development, standards of living, the community itself, quality of life and the Saudi economy - the demand in Saudi - means most investors will gain from investing in Saudi.” Mr Albuty continued: “Each country has its level, and its market and its demand. “Our market is dynamic, big, our offering is different. Our dynamics are different. Based on that, we design our products and communities.” This includes mega-projects showcased during Cityscape Global, such as NHC’s third phase of Khuzam, Riyadh, featuring a 7km ‘spine’ of parkland. “It is larger than Central Park, larger than Hyde Park, unique, accessible and a safe track for all residents,” said the chief executive “This location will be one of the best, one of a kind.” With Cityscape Global putting Saudi Arabia in sharp focus over four days, NHC is keen to emphasise its credentials, including building a robust supply chain that drives progress in a rapidly maturing market and delivering “exceptional projects” to meet consumer expectations and provide long-term investments. “We need others, internationally, to see what we are doing within NHC, within the country, the development, and we are looking for investors to invest here, looking for others to live in Saudi,” he said. “We are ready to provide them with the quality and their expectation, more than their expectation. Once you feel at home in Saudi, you will invest in it, you will live it. You’ll enjoy your life here.” With about 284 million square metres available for it to develop, NHC has been able to drive the domestic real estate scene while remaining bullish about the future. “It is very exciting to do such development,” Mr Albuty added. “You see people are living and enjoying those projects. “This transformation of the whole kingdom makes everyone happy, enthusiastic, want to do more, want to provide something to the community, and that’s what we are doing, and enhancing people’s lives.”
