Saudi Arabia, China Ink Deals to Develop 24,000 New Homes Under 100,000-Unit Housing Plan

Saudi Arabia’s National Housing Company (NHC) has signed a series of agreements to develop more than 24,000 new residential units as part of a broader Saudi-Chinese initiative to construct 100,000 homes across the Kingdom. The move is a major step in Saudi Arabia’s efforts to expand housing supply and enhance urban development under Vision 2030.

The agreements were concluded during an Asian tour by Majid bin Abdullah Al-Hogail, Minister of Municipal and Rural Affairs and Housing, who visited China and South Korea to bolster cooperation in housing, infrastructure, and smart city technologies, the Saudi Press Agency (SPA) reported.

The new partnerships represent a significant phase in Saudi-Chinese collaboration, focusing on the use of modern construction technologies to accelerate project delivery, improve quality, and meet the growing demand for housing. These projects form part of the Kingdom’s long-term strategy to raise homeownership rates to 70 percent by 2030. Saudi Arabia had already achieved 65.4 percent in 2024, surpassing its 2025 target a year ahead of schedule.

According to SPA, Al-Hogail highlighted that the tour reflected the ministry’s “comprehensive approach to enhancing cooperation with international partners in housing, infrastructure, and real estate technologies.” He emphasized that the initiative aims to improve project execution efficiency, enhance the homeownership experience for citizens, and foster partnerships that promote real estate stability and sustainable urban development.

During his visit to China, Al-Hogail met with several leading developers and technology companies to explore opportunities in modern construction methods and smart housing solutions. The minister’s South Korea visit focused on advancing smart city development and infrastructure integration.

In Seoul, Al-Hogail held discussions with Minister of Land, Infrastructure and Transport Kim Yun-duk and Minister of Science and ICT Bae Kyunghoon to explore collaboration in housing systems and the application of advanced technologies for urban innovation.

The Saudi minister also met with executives from South Korea’s technology giant NAVER to discuss the second phase of the “Baladi” digital twin project. In addition, he witnessed the signing of a memorandum of understanding between NHC and GS Engineering & Construction (GS E&C) to develop a specialized residential community within the Al-Fursan destination, located east of Riyadh.

The ministry stated that the agreements and meetings during the Asian tour lay the groundwork for building smarter, more sustainable Saudi cities. By introducing cutting-edge global models in housing and urban planning, the new partnerships are expected to accelerate development timelines, lower construction costs, stabilize housing prices, and attract greater local and international investment — reinforcing the competitiveness of the Kingdom’s real estate sector.