NHC CEO warns of rising land prices

The CEO of National Housing Co. (NHC) Mohammad Albuty said that balanced prices encourage developers to offer higher-quality products.

However, rising land prices in Saudi Arabia are hurting everyone, including developers and buyers, he added.

Speaking to Fi Al-Soura TV program, Albuty noted that the average land price in Riyadh reached SAR 1,483 per square meter (sqm).

He explained that NHC sets its pricing based on market conditions, adding that government support in 2018 focused more on residential units, land prices, and development costs.

The CEO emphasized that NHC strives to price its products below market levels, stating its offerings are 20% or more cheaper than similar units in the market.

Albuty said the company was offering 250 sqm units in Al Khuzama Villas in Al Narjis, Riyadh, for SAR 1.6 million to SAR 1.7 million, compared to the market rate of SAR 2.5 million to SAR 2.8 million.

Meanwhile, the 250-sqm villas in AlFursan were sold by NHC for SAR 1.1 million, compared to a market price of SAR 1.5 million to SAR 2 million.

Albuty said housing demand remains strong in the Kingdom, stressing the importance of delivering products that match buyers’ purchasing power.

He noted a significant shift in the sector, with NHC’s sales increasing in 2025, compared to 2024, despite recent real estate regulations.

NHC products are aligned with market demand, purchasing power, and balanced pricing, the CEO added.