The Saudi Contractors Authority is preparing to showcase SR1tn ($267bn) of future projects at a major event in Riyadh.
The contract opportunities will be on display at the fifth edition of the Future Projects Forum.
The forum is scheduled to take place on May 22 to May 23 in Riyadh under the patronage of the Minister of Municipal and Rural Affairs and Housing, Majid bin Abdullah Al-Hogail.
Saudi Future Projects Forum 2023
Zakaria bin Abdulrahman Al Abdulqader, the Chairman of the Board of Directors of the Saudi Contractors Authority, highlighted the significance of the forum’s current edition, which aligns with positive economic developments in the Kingdom.
These developments stem from the remarkable progress achieved by the Kingdom Vision 2030, as evidenced by a 7.8 per cent increase in real GDP between 2021 and 2022.
He underscored the contracting sector’s fundamental role in driving the economy’s growth and prosperity, given its close relationship with the Kingdom’s diverse and comprehensive giant initiatives that support long-term sustainable growth and revenue diversification.
Ensuring financial sustainability is crucial to fostering a robust contracting industry capable of effectively executing major projects, promoting local content, and creating employment opportunities for citizens.
Abdulmajid Al-Rashoudi, the Secretary General of the Saudi Contractors Authority, emphasised that the forum aims to enhance coordination and integration among project owners, contractors, manufacturers, and suppliers.
This collaboration will showcase the extensive range of opportunities and projects that the contracting sector requires as it serves as the executive arm of the ambitious Kingdom Vision 2030 initiatives and is a key driver across various sectors.
Al-Rashoudi said the Future Projects Forum and the projects under review align with the implementation of the Kingdom Vision 2030.
A mature, strong, and organised contracting sector is essential to support all sectors, including:
- Housing
- Transportation
- Logistics services
- Education
- Healthcare
- Tourism
- Entertainment
- Hospitality
- Real estate
- Energy
- Facilities
- Manufacturing
The forum aims to create a conducive environment for contractors from different specialisations and categories to convene, exchange experiences, share perspectives, and envision the sector’s future for the betterment of the country.
The fifth edition of the Future Projects Forum is sponsored by more than 40 government and private entities and enjoys the support of several major national companies.
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