Saudi Arabia’s leading real estate developer National Housing Company (NHC) has entered into a strategic partnership with K. Hovnanian M.E., a subsidiary of Hovnanian Enterprises, to establish residential and commercial projects within its urban destinations.
The MOU was signed by Mohammad Albuty, Chief Executive Officer of NHC, and Ara K. Hovnanian, Chairman of the Board, President, and Chief Executive Officer of Hovnanian Enterprises, Inc.
The partnership was formalized during the Saudi-U.S. Investment Forum, which was held on the occasion of the U.S President Donald Trump’s visit to Saudi Arabia. Held at the King Abdulaziz International Conference Center in Riyadh, the forum provided a platform for leading Saudi and American investors to celebrate the long-standing partnership between the nations.
The agreement aims to strengthen collaboration between NHC and K. Hovnanian M.E., attract investment, and develop residential and commercial projects to international standards within NHC destinations.
The collaboration also supports Saudi Vision 2030 by offering integrated housing solutions that enhance the quality of life. K. Hovnanian stands out as a leading real estate development companies in the United States with expertise in building residential communities.
Mohammad Albuty CEO – NHC
“Hovnanian has a strong heritage in developing quality homes and we will be exploring collaborative opportunities to enhance the lives of Saudi citizens through innovative developments that focus on improving the quality of life of all those who live in and visit our developments.”
The agreement builds on the official visit of His Excellency Majed bin Abdullah Al-Hogail, Minister of Municipal Rural Affairs and Housing, to the United States, highlighting the ongoing cooperation and growing investment ties between the two sides.
“We’re proud to deepen our partnership with NHC and honored to sign this agreement during such a historic visit. Saudi Arabia’s bold transformation under Vision 2030 presents a unique opportunity to contribute our decades of homebuilding experience to one of the most ambitious housing initiatives in the world. We look forward to building communities that reflect the Kingdom’s energy, ambition, and vision for the future,” added Ara K. Hovnanian.
