Hovnanian Enterprises Announces Strategic Partnership Between K. Hovnanian M.E. and Saudi Arabia's NHC
Hovnanian Enterprises (NYSE: HOV) has announced a strategic Memorandum of Understanding (MOU) between its Middle East subsidiary, K. Hovnanian M.E. Investments, and Saudi Arabia's NHC. The agreement was signed during President Trump's visit to Saudi Arabia at the Saudi-U.S. Investment Forum in Riyadh on May 13, 2025.
The partnership builds on K. Hovnanian M.E.'s existing presence in Saudi Arabia, where it has delivered over 2,450 homes through a joint venture since 2013. Hovnanian brings significant expertise, having built more than 376,000 homes in the United States over nearly 70 years. The collaboration aims to support Saudi Arabia's Vision 2030 by developing innovative housing communities across the Kingdom.
Hovnanian Enterprises (NYSE: HOV) ha annunciato un Memorandum d'Intesa strategico (MOU) tra la sua filiale mediorientale, K. Hovnanian M.E. Investments, e la NHC dell'Arabia Saudita. L'accordo è stato firmato durante la visita del Presidente Trump in Arabia Saudita, al Forum degli Investimenti Saudita-USA a Riyadh il 13 maggio 2025.
La partnership si basa sulla presenza consolidata di K. Hovnanian M.E. in Arabia Saudita, dove ha realizzato oltre 2.450 abitazioni tramite una joint venture dal 2013. Hovnanian apporta una vasta esperienza, avendo costruito più di 376.000 case negli Stati Uniti in quasi 70 anni. La collaborazione mira a sostenere la Vision 2030 dell'Arabia Saudita sviluppando comunità abitative innovative in tutto il Regno.
Hovnanian Enterprises (NYSE: HOV) ha anunciado un Memorando de Entendimiento (MOU) estratégico entre su filial en Oriente Medio, K. Hovnanian M.E. Investments, y la NHC de Arabia Saudita. El acuerdo se firmó durante la visita del presidente Trump a Arabia Saudita, en el Foro de Inversiones Arabia Saudita-EE.UU. en Riad el 13 de mayo de 2025.
La asociación se basa en la presencia establecida de K. Hovnanian M.E. en Arabia Saudita, donde ha entregado más de 2,450 viviendas a través de una empresa conjunta desde 2013. Hovnanian aporta una amplia experiencia, habiendo construido más de 376,000 hogares en Estados Unidos durante casi 70 años. La colaboración tiene como objetivo apoyar la Visión 2030 de Arabia Saudita desarrollando comunidades residenciales innovadoras en todo el Reino.
호브나니언 엔터프라이즈 (NYSE: HOV)는 중동 자회사인 K. Hovnanian M.E. Investments와 사우디아라비아 NHC 간의 전략적 양해각서(MOU)를 발표했습니다. 이 협약은 2025년 5월 13일 리야드에서 열린 사우디-미국 투자 포럼에서 트럼프 대통령의 사우디 방문 중에 체결되었습니다.
이 파트너십은 2013년부터 합작 투자로 2,450채 이상의 주택을 공급해온 K. Hovnanian M.E.의 사우디 내 기존 입지를 기반으로 합니다. 호브나니언은 미국에서 거의 70년간 376,000채 이상의 주택을 건설한 풍부한 경험을 보유하고 있습니다. 이번 협력은 사우디 비전 2030을 지원하며 왕국 전역에 혁신적인 주거 커뮤니티를 개발하는 것을 목표로 합니다.
Hovnanian Enterprises (NYSE : HOV) a annoncé un protocole d'accord stratégique (MOU) entre sa filiale au Moyen-Orient, K. Hovnanian M.E. Investments, et la NHC d'Arabie Saoudite. L'accord a été signé lors de la visite du président Trump en Arabie Saoudite, au Forum d'Investissement Saoudien-Américain à Riyad le 13 mai 2025.
Ce partenariat s'appuie sur la présence établie de K. Hovnanian M.E. en Arabie Saoudite, où elle a livré plus de 2 450 logements via une coentreprise depuis 2013. Hovnanian apporte une expertise considérable, ayant construit plus de 376 000 maisons aux États-Unis en près de 70 ans. Cette collaboration vise à soutenir la Vision 2030 de l'Arabie Saoudite en développant des communautés résidentielles innovantes à travers le Royaume.
Hovnanian Enterprises (NYSE: HOV) hat eine strategische Absichtserklärung (MOU) zwischen seiner Tochtergesellschaft im Nahen Osten, K. Hovnanian M.E. Investments, und der NHC Saudi-Arabiens bekanntgegeben. Die Vereinbarung wurde während des Besuchs von Präsident Trump in Saudi-Arabien auf dem Saudi-US-Investitionsforum in Riad am 13. Mai 2025 unterzeichnet.
Die Partnerschaft baut auf der bestehenden Präsenz von K. Hovnanian M.E. in Saudi-Arabien auf, wo seit 2013 über 2.450 Häuser im Rahmen eines Joint Ventures errichtet wurden. Hovnanian bringt umfangreiche Erfahrung mit und hat in den USA in fast 70 Jahren mehr als 376.000 Häuser gebaut. Die Zusammenarbeit zielt darauf ab, die Vision 2030 Saudi-Arabiens zu unterstützen, indem innovative Wohnanlagen im gesamten Königreich entwickelt werden.
- Expansion into Saudi Arabian market through partnership with leading developer NHC
- Leverages existing successful track record of 2,450 homes delivered in Saudi Arabia since 2013
- Strategic alignment with Saudi Arabia's Vision 2030 housing initiatives
- Potential for significant growth in one of the world's largest housing development markets
- None.
Insights
Hovnanian expands Saudi Arabia presence through strategic MOU with NHC, building on existing operations delivering 2,450+ homes since 2013.
This strategic partnership between K. Hovnanian M.E. and Saudi Arabia's NHC represents a significant expansion of Hovnanian's international footprint in a key growth market. The timing during President Trump's visit to Saudi Arabia adds political weight and visibility to this business development.
The MOU builds upon Hovnanian's established presence in Saudi Arabia, where they've already delivered over 2,450 homes through an existing joint venture since 2013. This track record demonstrates their capability to execute successfully in the Saudi market.
What makes this particularly notable is the alignment with Saudi Arabia's Vision 2030 initiative, which includes massive housing development goals. Saudi Arabia faces a significant housing shortage, and the government has allocated substantial resources toward residential construction. This creates a
The partnership structure through a Middle East subsidiary (K. Hovnanian M.E.) follows a proven model for U.S. companies expanding internationally - leveraging global expertise while partnering with local entities that understand regulatory frameworks and market dynamics. This reduces execution risk while maximizing growth potential.
From a broader perspective, this agreement exemplifies how U.S. homebuilders are diversifying beyond domestic markets to find growth opportunities, particularly in emerging economies with rising middle classes and government-backed housing initiatives. For Hovnanian specifically, this expands their revenue streams beyond the cyclical U.S. housing market.
MATAWAN, N.J., May 15, 2025 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder across the United States, announced the signing of a strategic Memorandum of Understanding (MOU) between its Middle East subsidiary, K. Hovnanian M.E. Investments, LLC, and Saudi Arabia’s leading real estate developer NHC. The MOU was signed by Mr. Mohammad Albuty, Chief Executive Officer of NHC, and Ara K. Hovnanian, Chairman of the Board, President, and Chief Executive Officer of Hovnanian Enterprises, Inc., and formalized at the Saudi-U.S. Investment Forum in Riyadh on May 13, 2025, during President Donald J. Trump’s historic visit to the Kingdom.
The signing of the MOU builds on the official visit of His Excellency Majed bin Abdullah Al-Hogail, Minister of Municipal Rural Affairs and Housing, to the United States, reflecting the continued cooperation and growing investment partnerships between the two sides.
The MOU builds on the ongoing collaboration between K. Hovnanian M.E. and NHC and includes forming joint working groups and pursuing opportunities within NHC projects, all in support of Vision 2030 and the creation of vibrant, livable communities across Saudi Arabia. In line with President Trump’s visit, these efforts seek to expand U.S. investment and strengthen commercial ties with Saudi Arabia.
Hovnanian, with its extensive experience in delivering over 376,000 homes in the United States over nearly 70 years, will continue to leverage this expertise through K. Hovnanian M.E. Investments, LLC, which has been active in Saudi Arabia through a joint venture with Hamad Bin Mohammed Bin Saedan Company since 2013 and delivered over 2,450 homes to Saudi homebuyers.
"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.”, Albuty said.
“We’re proud to deepen our partnership with NHC and honored to sign this agreement during such a historic visit,” said Ara K. Hovnanian. “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.”
About Hovnanian Enterprises, Inc.
Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Matawan, New Jersey and, through its subsidiaries, is one of the nation’s largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia and West Virginia. The Company’s homes are marketed and sold under the trade name K. Hovnanian® Homes. Additionally, the Company’s subsidiaries, as developers of K. Hovnanian’s® Four Seasons communities, make the Company one of the nation’s largest builders of active lifestyle communities.
Additional information on Hovnanian Enterprises, Inc. can be accessed through the “Investor Relations” section of the Hovnanian Enterprises’ website at http://www.khov.com. To be added to Hovnanian's investor e-mail list, please send an e-mail to IR@khov.com or sign up at http://www.khov.com.
| Contact: | Brad G. O’Connor | Jeffrey T. O’Keefe |
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