Monday , September 24 2018
Breaking News
Home / International Customs / Saudi Arabia / Conference dedicated to Saudi Arabia’s contracting sector to launch
Conference dedicated to Saudi Arabia’s contracting sector to launch

Conference dedicated to Saudi Arabia’s contracting sector to launch

The 1st International Contracting Conference and Exhibition (ICCE) 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 $1.4tr construction market.

The conference will take place from 16-17 September 2018 at the Riyadh International and Convention and Exhibition Centre.

The two-day event is held under the patronage of HE 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 $1.4tr. Meanwhile, new KSA construction contractor awards are estimated grow to $44.1bn in 2019, compared to 2018’s value of $26.3bn.

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. He said: “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.

“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.”

The 1st ICCE is co-organised by Messe Frankfurt Middle East, and Saudi-based ACE Exhibitions.

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.