Two-day Riyadh summit aimed at achieving sustainable contractor sector serving Saudi’s US$1.4 trillion construction market
11 September 2018, (AETOSWire) : A new exhibition and conference dedicated to Saudi Arabia’s contracting sector is launching in Riyadh next week, where government authorities, regulators, and key industry players will join forces to develop the Kingdom’s US$1.4 trillion construction market.
The 1st International Contracting Conference and Exhibition (ICCE), will take place from 16-17 September 2018 at the Riyadh International and Convention and Exhibition Centre, as achieving a sustainable contracting sector becomes top of the agenda for all stakeholders.
The two-day event is held under the patronage of His Excellency Dr. Majid bin Abdullah Al Qasabi, Saudi’s Minister of Commerce and Investment, and hosted by the Saudi Contractors Authority, a newly formed government authority responsible for regulating the Kingdom’s contractor industry and increasing mergers and acquisitions in a market where construction projects are expected to surge in the coming years.
According to Project Intelligence Platform Ventures ONSITE, as of September 2018, the total value of KSA construction-related projects, comprising buildings, industrial, power & water, oil & gas, and infrastructure, is estimated to be worth US$1.4 trillion. Meanwhile, new KSA construction contractor awards are estimated grow to US$44.1 billion in 2019, compared to 2018’s value of US$26.3 billion.
Eng. Thabet Mubarek Al-Sawyeed, the Governor of the Saudi Contractors Authority (SCA), said the 1st ICCE is formed under the guidance of the Saudi Vision 2030: “As part of Vision 2030, Saudi Arabia is going through immense change, and part of this change is to achieve a sustainable contracting sector for the Kingdom,” said Al-Sawyeed.
“In line with Custodian of the Two Holy Mosques King Salman’s vision, the SCA’s mandate is to organise, develop and regulate Saudi’s contracting industry, enabling it to build competent capabilities and to raise the standards produced by the sector, thereby establishing a safe and secure work environment.
“We’re therefore launching the ICCE under the theme of ‘Building the future with confidence’. Its aim is to not only create business opportunities, but to solve challenges in the contracting industry, encourage creativity, enhance communications, educate, facilitate and advocate not only SCA members, but the construction industry as a whole,” added Al-Sawyeed.
The 1st ICCE is co-organised by Messe Frankfurt Middle East, and Saudi-based ACE Exhibitions. Key sponsors on-board for the inaugural showpiece include Strategic Diamond Partner Al Bawani; Platinum Partners Riad Bank and Shibh Al Jazira Contracting Company; Gold Partners SAPAC and ANB; and Silver Partners Nesma and Partners Contracting, Saudi Tumpane, Mohammed Al Ojaimi Group, and TAMIMI Pre-Engineered Buildings.
Ahmed Pauwels, CEO of Messe Frankfurt Middle East, said: “The Saudi Arabian construction sector is undergoing a massive transformation, with the likes of Neom Business City and The Red Sea Project just a couple of examples of major building projects being planned at the moment.
“These, along with other KSA projects already under tender and in the design phase, will offer plenty of opportunities for the contractors across the whole supply chain, and the ICCE will act as the focal point and catalyst of the sector’s future development and long-term success.”
“We are proud to align with the Saudi Vision 2030 in organising the 1st International Contracting Conference and Exhibition along with Saudi Contractors Authority and our partners Messe Frankfurt Middle East,” stated Hadi Al-Harith, CEO of ACE Exhibitions.
“This event will serve the purpose of enhancing the building and construction industry and the regulating the contracting sector for better performance in the completion of major government initiatives like the Neom City, Red Sea Project, Abraj Kudai, Qiddiya, Riyadh Metro, King Abdullah Economic City, King Abdul Aziz International Airport and Haramian High Speed Railway to name a few.
“The accompanying conference will enable knowledge exchange, discussing new ideas and technologies and provide networking opportunities in developing the contracting sector,” Al-Harith commented.
Other supporting sponsors at the 1st ICCE include Pearl Partners AlKifah Ready-mix and blocks, Al-Rashid Trading & Contacting Company, Arail Construction and Industrial Company, Mohammed Ali Al Swailem Group (MASCO), and Projacs. TexoFib is on-board as Prime Exhibitor.
The two-day summit features an expert panel of more than 35 speakers. Hot topics on the agenda include Saudi’s mega project updates and initiatives related to Vision 2030, innovations in contracting sector, and human development & capacity building. More information about the 1st ICCE is available at: www.icce-ksa.com.