Riyadh - Sharikat Mubasher: The Saudi National Housing Company (NHC) inked a memorandum of understanding (MoU) with the China-based CITIC Construction Company to localize the building materials industry and support supply chains, a recent statement by NHC revealed.

This agreement aims to boost strategic partnerships with service providers in the building materials sector and establish zones for logistics services and building material industries in Riyadh and Jeddah.

The MoU was signed by Maan Alothimeen, General Manager of Supply Chain and Business Support at NHC, and Lee Shenyq, General Manager of the Middle East at CITIC Construction Company, in the presence of Mohammad Albuty, CEO of NHC.

This agreement will contribute to avoiding risks related to the supply chain sector, reducing the cost of establishing units and improving their quality.

CITIC Construction, the construction and engineering subsidiary of the CITIC Group, is an integrated engineering services company providing management and engineering, procurement, and construction (EPC) services on large industrial and civil infrastructure projects.

With more than five years of excellent performance, the NHC has proven its role in managing and adapting the challenges to act in its strategic interest. It had a continuous impact that contributed to improving the services of the housing sector for Saudi families and achieving the Kingdom’s aspirations of increasing the homeownership rate to 70%.