National Housing Company (NHC) signed on Friday a memorandum of understanding (MoU) with China State Construction Engineering Company (CSCEC) to invest SAR 2.5 billion in Murcia project, Saudi Press Agency (SPA) reported.
Under the agreement, the two parties will build 5,000 units and complete the phases of the project according to schedule.
Murcia, one of Riyadh’s largest housing projects, is built over 2.7 million square meters to provide 5,590 apartments and townhouses at prices starting from SAR 299,900.
The move came during Crown Prince Mohammed bin Salman’s visit to China.
According to data compiled by Argaam, the housing ministry has launched Murcia project in partnership with the private sector in August 2018.
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