Saudi National Housing Company Emerges as Regional Real Estate Leader Under Vision 2030

Saudi Arabia's National Housing Company (NHC) has transformed into a dominant player in the Kingdom's real estate sector, spearheading Crown Prince Mohammed bin Salman's ambitious Vision 2030 economic reform agenda. Evolving from a state-backed developer, NHC now manages residential suburbs and assets that constitute approximately 20 percent of all real estate product sales in Saudi Arabia, solidifying its significant influence in one of the region's largest property markets.

Since its establishment in 2016, NHC has been central to Saudi Arabia's housing transformation. It plays a crucial role in the Housing Program, a flagship initiative of Vision 2030, which aims to raise the national homeownership rate to 70 percent by 2030. According to the 2025 Vision 2030 annual report, Saudi homeownership has already reached 66.24 percent, exceeding the government's interim target of 65 percent for this year.

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The company had played a pivotal role in restructuring the sector to ensure long-term sustainability beyond direct state financing.

Originally founded by royal decree in 2016 as the investment and development arm of the Ministry of Municipalities and Housing, NHC was designed to manage housing assets and projects with enhanced efficiency and flexibility. A pivotal shift occurred in 2020 when a royal order transferred ownership to the state, elevating NHC from a supporting entity to a market leader. This change allowed the company to initiate some of the region's most extensive residential developments, expanding from managing smaller housing complexes to developing integrated cities spanning over 160 million square meters.

NHC is also actively working to reduce construction costs through its digital procurement platform, Supply Pro. This platform connects developers directly with manufacturers and suppliers, offering over 1,500 products from 129 factories and 45 suppliers, reportedly cutting development costs by about 20 percent. Furthermore, NHC has fostered local content in its projects through supply chain localization agreements and industrial partnerships valued at over SAR 21 billion ($5.6 billion). Maan Alothimeen, NHC's general manager for supply chains and business support, noted that Supply Pro has facilitated transactions exceeding SAR 2 billion in the past two years, with Saudi factories and SMEs accounting for 95 percent of this activity.

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Supply Pro had handled transactions exceeding SAR 2 billion over the past two years, with Saudi factories and small- and medium-sized enterprises accounting for 95 percent of the activity.