NHC inks deal with Urbas to construct 589 housing units in Al-Fursan Suburb

NHC inks deal with Urbas to construct 589 housing units in Al-Fursan Suburb

The National Housing Company (NHC) has announced a strategic partnership with Urbas Middle East Real Estate Company, a subsidiary of the esteemed Spanish Urbas group, to develop and construct 589 housing units in the Al-Fursan Suburb. This collaboration marks a significant milestone in the development of the Al-Fursan suburb with the construction of new innovative […]The National Housing Company (NHC) has announced a strategic partnership with Urbas Middle East Real Estate Company, a subsidiary of the esteemed Spanish Urbas group, to develop and construct 589 housing units in the Al-Fursan Suburb.

This collaboration marks a significant milestone in the development of the Al-Fursan suburb with the construction of new innovative residential units worth around $266 million (SAR 1 billion).

Covering an area of ??approximately 150,000 square meters, the project promises to set new standards in housing development, as per the statement.

Urbas Group, with its presence in over 20 countries and a portfolio of more than 30,000 residential units, brings a wealth of experience to this project. The already established Urbas Middle East aims further to increase its operations in the Saudi Arabian market, reflecting the group’s commitment to expanding its global footprint.

The agreement was formalized in a ceremony attended by the Minister