{"id":24302,"date":"2019-03-05T12:32:49","date_gmt":"2019-03-05T09:32:49","guid":{"rendered":"https:\/\/www.amlak.net.sa\/home\/?p=24302"},"modified":"2019-03-05T12:32:49","modified_gmt":"2019-03-05T09:32:49","slug":"%d8%a7%d9%84%d9%85%d8%b4%d8%a7%d8%b1%d9%8a%d8%b9-%d8%a7%d9%84%d9%85%d8%b3%d8%aa%d9%82%d8%a8%d9%84%d9%8a%d8%a9-%d9%81%d9%8a-%d8%a7%d9%84%d8%b3%d8%b9%d9%88%d8%af%d9%8a%d8%a9","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/24302\/","title":{"rendered":"Future Projects Forum reviews 600 projects with an estimated value of more than 450 billion riyals 662 projects worth 40 billion riyals"},"content":{"rendered":"

With great success, [organization] organized Saudi Contractors Authority<\/a>  Future Projects Forum<\/a> FPF<\/strong> The event took place on February 26\u201327 with the aim of creating a platform that brings together investors, entrepreneurs, and contractors to present and discuss future projects in the construction sector. During the forum\u2019s sessions, 23 entities participated and presented 600 projects with an estimated value exceeding 450 billion riyals. Speakers revealed that Contracting sector<\/a> It comprises 162,000 establishments and employs approximately 3.5 million workers.<\/p>\n\n\n\n

662 projects worth 40 billion riyals stalled<\/strong><\/h3>\n\n\n\n

The opening ceremony was graced by His Royal Highness Prince Faisal bin Bandar, Governor of the Riyadh Region, who emphasized that the value of the projects announced during the ceremony represents a significant opportunity for contractors to review them, and demonstrates that the Kingdom is a nation governed by systems and laws that values quality work in line with the Kingdom\u2019s Vision 2030 adopted by the Custodian of the Two Holy Mosques and His Royal Highness the Crown Prince. The Governor of the Riyadh Region said that subcontractors need to demonstrate diligence, effort, and focus, as they have caused a number of projects to stall, He explained that they are seeking strong contractors who can prove their worth, expressing his hope that the stalled projects will be completed soon. His Highness noted that the stalling of 662 projects worth 40 billion riyals is a significant figure, and we are working on it, \u00a0Prince Faisal bin Bandar wished those working in the construction sector continued progress.<\/p>\n\n\n\n

We have a clear picture of an ambitious nation that can establish a new approach to work in a new way for the Saudi people.<\/p>\n\n\n\n

Forum to host projects worth 450 billion riyals<\/strong><\/h3>\n\n\n\n

For his part, the Chairman of the Saudi Contractors Authority, Eng. Osama Al-Afaleq, that the Authority is working to keep contractors informed of new investment opportunities in the Kingdom, noting that 23 entities are participating in this forum and will showcase 600 projects with an estimated value exceeding 450 billion riyals, and explained that there are 162,000 businesses in the construction sector, employing approximately 3.5 million workers. Al-Afaleq emphasized that the projects are centered on three pillars: a vibrant society, an ambitious nation, and a strong economy. These pillars encompass sectors such as transportation, logistics, education, tourism, healthcare, hospitality, real estate, and energy.<\/p>\n\n\n\n

Aramco offers 200 projects<\/strong><\/h3>\n\n\n\n

For his part, Aramco's Senior Vice President for Technical Services, Ahmed Al Saadi, said that there are 200 projects that Saudi Aramco is implementing through the use of local and international contractors, which will contribute to the transfer of expertise and technologies to localize them and help create new job opportunities for young people in a sustainable environment, which aims to move the Saudi economy to competitiveness.<\/p>\n\n\n\n

100 billion in construction project value <\/strong><\/h3>\n\n\n\n

The Future Projects Forum is considered the first and largest of its kind in the Middle East, with the total value of the projects estimated at more than 50 <\/strong>billion<\/strong> U.S. dollars, and the Kingdom represents The Largest Construction Market<\/strong> in the Middle East, with a total annual value of 100 <\/strong>1 billion dollars<\/strong>.  <\/strong>In line with Vision 2030, the event provided a golden opportunity for market stakeholders, equipping them with the necessary information and insight for future projects and enabling them to build strong relationships with attendees and participants, including business leaders, corporate representatives, and government officials.<\/p>\n\n\n\n

Figures and notes on the Future Projects Forum<\/strong><\/h3>\n\n\n\n