Saudi Arabia’s National Housing Company (NHC) has inked a $655m deal with China State Construction Engineering Company (CSCEC) that will see the construction of 5,590 houses in the Kingdom. The Murcia Project will take shape in Riyadh over 2.7m sqm of land, which belongs to the Ministry of Housing.
The announcement was made during a visit to China by Prince Mohammed bin Salman bin Abdulaziz, the Crown Prince of Saudi Arabia, Deputy Prime Minister and Minister of Defence.
The Murcia Project is billed as a fully integrated residential complex that has been designed ‘in a unique way’. It is said to feature a national valley as part of the project, as well as green spaces and public parks to ensure a modern residential environment that meets all the needs of the citizens.
The project will feature houses of different designs ranging from apartments to townhouses, said Engineer Mohammed Bin Saleh Albuty, the chief executive of NHC after signing the deal with Liu Xinq, the general executive manager of China State Construction Engineering Company.
According to a statement, the two parties agreed to work together and leverage their potential to complete “Murcia project”, in accordance with the scope of work and agreed timetables.
Work on the project’s infrastructure is said to have already begun with Albuty saying that the use of modern construction technology will help in the speed of delivery and ensure high quality.