The National Housing Company (NHC), Saudi Arabia announced that it has signed a memorandum of understanding (MoU) with Korea’s GS Engineering and Construction to implement a landmark project at the AlFursan Destination.
The signing took place in Seoul under the patronage of Minister of Municipalities and Housing Majed Al Hogail and in the presence of CEO of the National Housing Company Mohammed Al Buty.
This step underscores the depth of the strategic partnership between the Kingdom of Saudi Arabia and the Republic of Korea, aiming to develop a distinctive residential real estate project within the AlFursan Destination in Riyadh.
The new MoU extends the growing Saudi-Korean partnerships, strengthened by the signing of an MoU in November 2024 to develop the Balady Platform and implement digital twins and smart city applications, contributing to urban planning development and improved quality of life, statement mentioned.
