According to global real estate consultancy Knight Frank, the total value of real estate and infrastructure projects since the launch of Saudi Arabia’s National Transformation Plan in 2016 has crossed $1.1tn.
Riyadh is poised to undergo explosive growth, with the population projected to close in on 17 million by 2030, up from around 7.5 million today. To meet this ambitious growth target, the city has itself seen real estate projects worth $104bn unveiled over the last six years.
Furthermore, Knight Frank points to plans for a brand-new international airport worth US$ 147 billion, details of which are expected soon. The new international airport accounts for close to 74% of the $200bn nationwide infrastructure spend.
Sustainability is a key theme for Riyadh too, Knight Frank says, citing recent plans for the 10 km2 ALNAMA Smart City, which will be the capital’s first zero-carbon city, housing some 44,000 people when completed.
Commenting on the developments, Faisal Durrani said: “Not to be outdone, Riyadh’s repositioning as a commercial nerve centre of the Kingdom is well underway. And businesses from the world over are already clamouring to be at the centre of the Middle East’s second and much-needed global hub.
“Indeed, with Grade A office occupancy levels across the city hovering at around 97%, the planned development of a further 2.8 million sqm of world class office space couldn’t come sooner. The city is also attracting a huge number of internal migrants and with readily available support to get on the housing ladder, house prices are rising rapidly and currently stand some 26% higher than this time last year”.
Leaders in Construction KSA Summit
In keeping with the kingdom’s rapidly growing construction industry, Construction Week Middle East‘s Leaders in Construction KSA Summit – an industry mega event – will analyse how the number and value of mega projects around the country – all of which are colossal – are set to transform the country’s construction landscape, standard of living, and lifestyle.
Scheduled to be held on 28 September at the Sheraton Riyadh Hotel in Saudi Arabia, the LEaders KSA event will spotlight conversations around the country’s growth trajectory, which is underpinned by multi-billion dollar gigaprojects.
As the Kingdom of Saudi Arabia achieves new milestones, the construction industry has emerged as a driving force behind the nation’s transformation. The industry is assisting Saudi Arabia in its efforts to implement a large-scale economic overhaul as outlined in Vision 2030.
The event will feature a keynote speech, presentations, and panel discussions analysing how the kingdom is building multi-billion-dollar worth of gigaprojects that will redefine the future of real estate and construction, not just in the region, but globally.
The Leaders KSA event will follow the below running order:
Session 1 – 09:05 – 09:20
Keynote speech: The exponential growth of construction industry in Saudi Arabia by Eng. Thabet M. Al-Sawyeed, Governor at Saudi Contractors Authority.
Session 2 – 09:20AM – 09.35AM
Presentation 1: Suitability as a key pillar for construction sector evolution by Tamer Shafik, Vice President for Business Development at Orascom Construction.
Session 3 – 09.35AM – 10.15AM
Panel 1: Progress report of Saudi Arabia’s gigaprojects with panel members Samer Daoud, Managing Director at KEO Infrastructure; Anthony McCarter, Country Director of Middle East at Ramboll; Darren Burke, General Manager Saudi Arabia at ALEC; and Saud Mohammed Alsulaimani, KSA Country Head at JLL.
Session 4 – 10.15AM – 10.45AM
Panel 2: Driving the growth of EPC projects with sustainability at the core with panel members Maria Deus, Legal Director at HFW; Julian Haslam-Jones, Managing Director of Middle East & Asia at CCi; Tamer Shafik, Vice President for Business Development at Orascom Construction; and Dean Ryburn, Partner at Dentons.
Session 5 – 10.45AM – 11.00AM
Presentation 2: Modular construction – becoming an advanced mode of construction in KSA by Waleed Khaled, Regional Director at Losberger De Boer.
Session 6 – 11.30AM – 12.00PM
Panel 3: Embedding digital transformation into construction with panel members Richard Jowett, Head of Buildings KSA at Ramboll; Ash T. Arshad, General Manager at Resa Gulf Scaffolding; and Barry McGinn, Sales Director, Capital Projects at Cyberhawk.
Session 7 – 12.00PM – 12.15PM
Fireside chat: The effective integration of ventilated facades with Eddy Abou Khalil, Regional Director Middle East & India at COSENTINO.
Session 8 – 12.15PM – 12.45PM
Panel 4: The art of designing and building tourism and entertainment projects with panel members Lee French, Partner & Operations Director MENA at Cundall; Marwan Abbas, Project Director at Khatib & Alami; and Garald Todd, Director – Property & Buildings at WSP Middle East.
Stay tuned for more information about the Leaders in Construction conferences. Visit Construction Week Live for more insights.
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