Saudi NHC and PIF sign supply chain cooperation agreement

Saudi NHC and PIF sign supply chain cooperation agreement

Saudi PIF is the Kingdom's largest fund. / bne IntelliNews

By bnm Gulf bureau February 16, 2025

The National Housing Company (NHC) has signed a memorandum of understanding with the Public Investment Fund (PIF) to strengthen real estate supply chain initiatives, Saudi Press Agency reported on February 16.

The agreement, signed during the PIF Private Sector Forum's Real Estate Investor Track, aims to develop Saudi Arabia's property sector through several strategic initiatives.

The partnership promotes value engineering principles to support local capacity and materials utilisation while attracting domestic and foreign investment to localise construction product manufacturing.

The collaboration includes joint initiatives involving NHC's industrial and logistics zones, alongside efforts to enhance long-term demand forecasting through improved methodologies and asset classification.

The memorandum also encourages PIF portfolio companies to review and utilise the Supply Pro platform, supporting broader supply chain integration efforts.

"This cooperation reflects NHC and PIF's commitment to supporting Saudi Arabia's real estate development sector in line with Vision 2030 objectives for sustainable development and local content enhancement," said an NHC spokesperson.

#bnm #SaudiArabia #Economy #Riyadh #energy #banking

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