Arab News, Wed, Mar 06, 2024 | Shaban 25, 1445
NHC signs deals to revolutionize Saudi real estate sector with innovative technologies
Saudi Arabia:
Saudi Arabia’s National Housing Co. signed two agreements at LEAP 2024, aiming
to support real estate activities in the Kingdom by crafting unique business
intelligence solutions.
The deal were signed with data science company
Quant and Paseetah Tech Solutions to empower technologies in the real estate
market to enhance services provided to customers interested in making
investments, the Saudi Press Agency reported.
The chief of solutions sector, Rayan Al-Aql,
represented the National Housing Co. in signing the agreement, while Quant CEO
Ahmed Bukhamseen and Omar Al-Omar, CEO of Paseetah Tech Solutions, represented
their respective companies.
The agreements aim to enable modern technologies
in the real estate sector by leveraging information owned by the NHC to
contribute to creating unique solutions serving the market.
This includes generating more accurate real estate
analytics, supporting innovation in data analysis, and creating real estate
indicators that enhance the market’s reliance on data in property decisions.
This facilitates informed decision-making for investors and buyers, the SPA
reported.
NHC is showcasing its services and technological
achievements at the LEAP conference currently underway in Riyadh.
These achievements have benefited over 10 million
people across eight government digital platforms.
The company has also documented more than 9
million residential and commercial lease contracts, achieved over 6.5 million
downloads for the “Sakani” application, operated and developed the “Balady”
platform under the Ministry of Municipal and Rural Affairs and Housing, among
other technological accomplishments associated with the digital platforms
operated and developed by the NHC.
Earlier in February, the National Housing Co.
announced that it would build a total of 3,800 homes after forging six
partnership agreements worth SR2 billion ($533 million).
These deals, which were signed with several real
estate developers, aim to build residential units in the Riyadh southwestern
community of Al-Asalah, with prices starting from SR475,000, according to the
Saudi Press Agency.
SPA added that this initiative is part of a
comprehensive program of urban development spearheaded by the NHC aiming to
revolutionize the housing landscape by introducing innovative concepts and
integrated services, ultimately enhancing the quality of life across all sectors
of society.