oroccan developer Addoha announced on November 6 that it had obtained the approval of the National Housing Company (NHC), which allows it to take part as a partner developer in residential projects in Saudi Arabia.
According to the developer, listed on the Casablanca Stock Exchange, it is the first Moroccan and West African real estate developer to obtain this qualification. The approval opens the NHC’s districts in Riyadh to it, where it plans to assess future investments.
A delegation from the group visited the NHC headquarters and toured two of its largest integrated districts, Khuzam, north of Riyadh, and Al Fursan, northeast of the city.
The statement names no awarded project and no investment amount for now. Founded in 1988, Addoha claims nearly 300,000 homes delivered in Morocco and more than 23,000 in production, with a sales value of nearly 20 billion dirhams.
Photo: Hamza A. Durrani, CC BY-SA 4.0.
Groupe Addoha - Le Groupe Addoha obtient l’agrément de la NHC en Arabie saoudite
