Chinese builder wins contract for 20,000 Saudi residential units

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Saudi Arabia's National Housing Company (NHC) has awarded a contract to China Machinery Engineering Corporation (CMEC) for the construction of 20,000 residential units at its projects coming up within the suburbs and neighbourhoods across the kingdom.

According to NHC, this agreement is one of several with major international construction companies. It will entail building different facilities, including medical care establishments, schools, and retail stores, reported SPA.

The agreement was signed by National Housing Company CEO Mohammad Albuty in the presence of Minister of Municipal, Rural Affairs and Housing, Chairman of the Housing Program Committee Majid bin Abdullah Al Hogail during his recent visit to Beijing, China.

The deal is part of NHC's endeavour to contribute to achieving the objectives of the Housing Program, envisaged in the Kingdom's Vision 2030, through partnerships with leading international companies, attracting international investments in the real estate sector, it added.