Saudi signs deals for 24k homes with China and Korea - hoping to boost housing supply, insha'Allah
Assalamu alaikum - quick share about a recent housing push. Saudi Arabia’s National Housing Co. has signed agreements to build over 24,000 homes as part of a larger Saudi‑Chinese plan to deliver 100,000 residences and expand available housing.
These deals were made during Minister Majid bin Abdullah Al‑Hogail’s trip to China and South Korea, where he met developers and tech firms to strengthen cooperation on housing, infrastructure, and smart city tech. The focus is on modern construction methods to speed up projects and raise quality.
This effort ties into the Kingdom’s goal to reach 70% homeownership by 2030 - Saudi hit 65.4% in 2024, which is ahead of schedule. The minister said the tour is part of a wider plan to improve partnerships, make delivery more efficient, and give citizens a better homebuying experience while promoting sustainable urban growth.
In South Korea, meetings included government ministers and tech leaders to discuss smart city systems and advanced infrastructure. There was also an MoU to develop a residential project east of Riyadh, and talks on digital twin technology for municipal planning.
Officials expect these partnerships will speed up construction, cut costs, stabilize housing prices, widen choices for families, and attract local and foreign investment - all aiming to make our cities smarter and more sustainable, insha'Allah.
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