Saudi Arabia is witnessing radical shifts in the building and construction sector as part of its efforts to realize Vision 2030, which aims to promote sustainable development and localization of industries. وفي هذا الإطار، أعلن وزير البلديات والإسكان، ماجد الحقيل، عن تحقيق قفزة نوعية في اعتماد تقنيات <a href="https://momah.gov.sa/ar/node/6742#:~:text=,1T
Details of the transformation in modern construction
<During an interview with CNBC Arabia, Al-Haqeel revealed that the adoption rate of modern construction in the Kingdom has increased from less than 50% to more than 70%. He stressed that this development reflects the efforts made to modernize the construction sector using advanced technologies that reduce time and cost and enhance the quality of projects.
He pointed out that this great transformation reflects the Kingdom's orientation towards relying on innovation in the construction sector, in order to keep pace with the growing requirements of the real estate market and provide sustainable solutions to build modern cities.
The role of the local product in achieving development
<The Minister explained that the local product has played a pivotal role in the modern construction sector, contributing to high percentages in the implementation of construction projects. He emphasized that increasing the use of local materials has direct benefits for the national economy, reducing the value of purchases from abroad and enhancing job opportunities for young Saudi men and women.Haqeel added. Al-Haqeel added that the success of the local product in meeting the needs of the market reflects its ability to compete with quality comparable to international standards, strengthening the Kingdom's position as a regional center for building and construction industries.
Al-Haqeel added.
The attractiveness of the Saudi market for foreign investments
The minister also pointed out that the Saudi real estate market has become an attractive environment for foreign investments, citing the increasing demand from international investors to take advantage of the large purchasing power in the Kingdom, as well as the growing demand from neighboring markets.
He stressed that the Saudi real estate market is attractive for foreign investments. <He emphasized that this demand reflects investors" confidence in Saudi legislation and the quality of local products. He explained that the trend towards modern construction using local materials and technologies has enhanced the attractiveness of the Saudi market, not only for local investors but also for foreign investors who see it as an opportunity to achieve significant returns.
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These developments come at a time when the Kingdom is witnessing major projects such as NEOM and Qiddiya, which rely heavily on modern construction. These projects are expected to increase demand for local products and foster innovation in construction technologies, supporting the Kingdom's development goals.
With these qualitative leaps in the modern construction sector, Saudi Arabia appears on the cusp of a new phase of economic and developmental progress, supported by a clear vision to localize industries and enhance global competitiveness. These transformations reflect the Kingdom's commitment to providing an advanced and sustainable infrastructure that meets the needs of future generations. These transformations reflect the Kingdom's commitment to providing an advanced and sustainable infrastructure that meets the needs of future generations.
Promising prospects for the construction sector
