NHC Signs MoU with K. Hovnanian ME to Develop Urban Projects
The National Housing Company (NHC) has entered into a memorandum of understanding (MoU) with K. Hovnanian ME to jointly develop a range of residential and commercial projects across NHC's urban developments. The agreement was signed during the Saudi-US Investment Forum in Riyadh.
The Memorandum of Understanding was signed by NHC CEO Mohammed bin Saleh Albuty and Tyler Lewis of K. Hovnanian ME. Additionally, this partnership stems from an official visit to the United States by Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail, highlighting the strengthening investment relations and growing collaboration between the two countries.
The MoU is designed to strengthen cooperation, attract foreign investment, and ensure the delivery of high-quality, internationally benchmarked real estate developments. It also supports the objectives of the Housing Program under Saudi Vision 2030 by offering integrated housing solutions aimed at enhancing residents' quality of life.
Hovnanian, one of the largest real estate developers in the United States, brings extensive experience in creating residential communities.
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