National Housing Co. (NHC) signed an agreement with Urbas Middle East Real Estate Company, a subsidiary of the Spanish company Urbas, to build 589 housing units in an area spanning 150,000 sq. m in the Al-Fursan suburb of Saudi Arabia.

Al-Fursan, one of the largest urban development projects in the region, is strategically aligned with Saudi Arabia's Vision 2030. Spanning 35 million sq. m, this suburb will offer over 50,000 residential units, accommodating a population exceeding 250,000. It will feature over 190 essential amenities, including educational, healthcare, and recreational facilities, complemented by over 6 million sq. m of green spaces. Additionally, NHC plans to sell 1,300 residential units within Al-Fursan in Q1 of 2024, with a total value exceeding SAR 1.5 billion (US$ 400 million).