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.