https://arab.news/w5u32
- Project owners showcased building programs in the pipeline
RIYADH: More than 850 Saudi construction projects worth in excess of SR600 billion ($160 billion) will be featured at a forum taking place later this month.
The Saudi Contractors Authority (SCA) will stage its second Future Projects Forum (FPF), the largest gathering for the building sector in the Kingdom, in Riyadh on Feb. 25 and 26.
This year鈥檚 event will see the participation of 35 government and private agencies which will highlight key sector projects planned for the Kingdom.
Most of the construction schemes have been initiated in line with the goals of the Saudi Vision 2030 reform plan.
During a press conference in Riyadh on Wednesday to announce the forum, project owners showcased building programs in the pipeline.
Through the FPF, the SCA aims to offer the chance for contractors, investors, suppliers, developers, banks, insurance companies, study and consulting centers, and other interested parties to be introduced to the most important future projects and investment opportunities planned for the Kingdom.
Project owners participating in the second forum will represent various strategic and vital sectors including oil, tourism, entertainment, transportation, housing, infrastructure, and mining.
The authority鈥檚 secretary-general, Thabit bin Mubarak Al-Suwaid, said: 鈥淭his forum is a unique platform for project owners to showcase their projects and promote the principle of transparency and competitiveness. It provides an opportunity for sponsors to learn the trends of the coming period鈥檚 projects.
鈥淚n addition, the forum provides an opportunity for contractors and investors to discover future projects put forward by several agencies under one umbrella and in one place, enabling them to prepare their future plans.
鈥淚t is also an exceptional opportunity for building relationships, as it allows contractors and investors to meet project owners and learn about the requirements, registration methods, and the required qualifications. This helps improve their plans and decisions by identifying the time period for future projects, their estimated costs, the qualification mechanism and how to compete for it,鈥� he added.
鈥淭he forum also creates a network of project owners, contractors, and interested parties, in addition to providing an opportunity to build partnerships between the contractors themselves.鈥�
The SCA urged all contractors, investors, and individuals interested in attending the forum鈥檚 sessions to book their places at .
Feedback from the first FPF, held in 2019, showed 91 percent of participants had been satisfied with the event. The number of government and private agencies taking part has increased from 23 to 35 this year, and the total value of projects is up from SR450 billion to more than SR600 billion. Around 2,000 delegates are expected to attend this year鈥檚 forum.