Saudi Arabia’s National Housing Company (NHC) has signed two agreements totaling 8.5 billion Saudi riyals ($2.27 billion) to develop major mixed-use and residential projects in Riyadh, supporting the capital’s housing expansion under Vision 2030.

In the first deal, NHC partnered with a joint venture between Egypt’s Hassan Allam Holding and local developer Tilal Real Estate to develop a SAR 3.3 billion ($880 million) mixed-use project in the Khozam district. The planned community, covering over 228,000 square meters, will be delivered through Grova Developments, Hassan Allam Holding’s development arm.

The second agreement, valued at SAR 5.2 billion ($1.39 billion), was signed with Retal Urban Development Company to construct 4,839 residential units, including villas and apartments, in the Al Fursan Suburb – third area of Riyadh. These initiatives are part of NHC’s broader strategy to increase housing supply and meet the growing demand in the capital.