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Saudi Arabia’s National Housing Company Unveils Two New Housing Projects in Jeddah
Saudi Arabia_s National Housing Company Unveils Two New Housing Projects in Jeddah

Saudi Arabia’s National Housing Company launches 757 new residential units in Jeddah across two projects, Med Sadeem and Khayal Hostel, featuring villas, townhouses, and apartments with modern amenities. 

Both projects are being implemented under the National Housing Company’s Public Private Partnership scheme taking their total new residential projects this year to 46.

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Overview of the New Projects

Image Credit NHC

The NHC’s initiative is part of its ongoing commitment to enhance the quality of life for Saudi citizens through the provision of comprehensive facilities and services within the ambit of its public-private-partnership (PPP) project scheme.

The first project, Med Sadeem, is located in the Sadayem suburb of Jeddah and covers an area of 136,899 square meters. It will offer 445 residential units, a mix of villas and townhouses, developed in partnership with Thabat Al Maskan Real Estate Company.

The housing units, varying from 299 to 332 square meters, are designed in a modern architectural style, promising comfort and luxury in an environment rich with cultural character.

The second project, Khayal Hostel, is set to come up in the Khayal suburb of Jeddah, spanning over a 54,131 square meter area. This development will feature a total of 312 apartments, designed in a modern and sustainable style, with integrated services and facilities.

The housing units, ranging from 147 to 202 square meters, are being implemented in partnership with Faisal Abdullah bin Saedan Company for Investment and Real Estate Development. The project will boast a plethora of lifestyle amenities, including gardens, open spaces, and pedestrian and bicycle paths.

Strategic Location of the Projects

Both projects are strategically located to provide residents with access to a wealth of facilities and amenities. In particular, the Sadayem suburb, the home of the Med Sadeem project, is situated east of Al-Buhairat city, near the Red Sea coast. 

This location places residents in close proximity to essential services and significant future developments. The NHC’s recent launches have brought the total number of its new residential projects this year to 46, demonstrating the company’s commitment to revolutionizing the housing landscape for Saudi residents.

Partnerships and Collaborations

Image Credit NHC

The NHC’s projects are built on a foundation of strong partnerships and collaborations, not only with real estate companies but also with banks and other service providers. 

For the Med Sadeem project, the NHC partnered with Thabat Al Maskan Real Estate Company, while for the Khayal Hostel project, they teamed up with Faisal Abdullah bin Saedan Company for Investment and Real Estate Development. 

These partnerships reflect NHC’s strategy of empowering the private sector through collaboration with specialized companies. In addition to real estate partnerships, the NHC also signed cooperation agreements with Al-Ahli Bank, Al Bilad Bank, and Al Rajhi Bank. 

These partnerships aim to offer special financing options for the beneficiaries of the Sadayem suburb, making homeownership more accessible.

Sale of Properties

According to the National Housing Company, the sale of properties in the Sadayem suburb will commence on Monday, July 24th of this year. 

The first phase will include villas with a starting price of SAR 800,000, followed by the sale of apartments and townhouses in subsequent phases.

NHC’s Vision

Image Credit NHC

NHC’s mission aligns with the objectives of Saudi Vision 2030, aiming to increase the homeownership rate to 70%. With its recent projects, the company continues to lead and enable the real estate supply system, investing in several projects and suburbs in the Makkah region.

Through these initiatives, NHC is playing a vital role in reforming the housing and real estate sector of the kingdom, as outlined in Saudi Arabia’s Vision 2030. 

The company’s focus on providing integrated residential communities is set to enhance the homeownership rate among families, thereby elevating the quality of life for Saudi citizens.

About The National Housing Company

The National Housing Company (NHC), founded in 2016 under Royal Decree No. 7262, serves as the investment arm for Saudi Arabia’s Ministry of Municipal and Rural Affairs and Housing. It focuses on real estate and residential sectors. 

In 2020, NHC transitioned to state ownership, marking a new phase in its operations. This change positioned it as a key player in enabling solutions for the Saudi real estate market.

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