Government and private entities in Saudi Arabia have reviewed construction projects worth an estimated SAR 1 trillion ($266 billion) in front of local and international contractors from 16 countries.
This took place during a specialized forum that kicked off on May 22 in the Saudi capital, Riyadh.
The projects were presented by approximately 41 government and private entities, with an estimated total of around 3,000 projects.
They were featured at the fifth edition of the Future Projects Forum in Riyadh. The forum is organized by the Saudi Contractors Authority and was attended by officials from 11 government and private entities.
Minister of Municipal and Rural Affairs and Housing Majid bin Abdullah Al-Hogail said that the contracting sector serves as a fundamental pillar for the growth and prosperity of Saudi Arabia.
He added that the sector plays a crucial role in enabling many initiatives of Vision 2030 and serves as the primary driving force for numerous important sectors.
The minister emphasized that the government places great importance on the development and support of the sector, as evidenced by the establishment of the Saudi Contractors Authority.
For his part, Engineer Zakaria Al Abdulqader, the Chairman of the Board of Directors of the Saudi Contractors Authority, highlighted Saudi Arabia’s remarkable economic development.
The Future Projects Forum, featuring almost 3,000 projects valued at over SAR 1 trillion (266.6 billion dollars), shows a significant advancement in the contracting sector, said Abdulqader.
He added that the percentage of registered participants from outside Saudi Arabia reached 25%, reflecting the importance of the Authority’s role in organizing and highlighting the magnitude of future opportunities and projects in the Kingdom’s contracting sector.
As the executive arm of the Vision 2030 projects and the main driving force for many vital sectors, the contracting sector is crucial for the Kingdom’s future, noted Abdulqader.
