Riyadh Future Projects Forum to review 850 projects worth over $160bln

The Future Projects Forum will be held in Riyadh on February 25-26

  
Cars drive past the Kingdom Centre Tower in Riyadh, Saudi Arabia, January 30, 2018. Image used for illustrative purpose.

Cars drive past the Kingdom Centre Tower in Riyadh, Saudi Arabia, January 30, 2018. Image used for illustrative purpose.

REUTERS/Faisal Al Nasser

RIYADH — More than 850 projects, which are estimated to cost over SR 600 billion, are expected to be presented at the second edition of the Future Projects Forum, which will be held here on Feb. 25-26.

The Saudi Contractors Authority (SCA), a subsidiary entity under the Ministry of Commerce and Investment, announced this in a press conference held in Riyadh on Wednesday.

Around 35 government and private entities will attend the forum to present these projects that are planned to implement in the Kingdom in future. Most of these projects are part of the initiatives and goals of the Kingdom’s Vision 2030, the Saudi Press Agency reported.

The forum is the largest gathering of those concerned with contracting sector in the Kingdom. The forum is one of the Authority’s initiatives that provide an opportunity to view details of the most important future projects and the most remarkable investment opportunities for contractors, investors, suppliers, developers, banks, insurance companies, consulting centers and all interested parties.

Among the most prominent of the government and private sectors that are taking part in the forum are oil, industry, tourism, entertainment, transportation, housing, infrastructure and mining.

SCA Secretary General Eng. Thabit Al-Suwaid said the forum represents a unique platform for project owners to review their projects and to enhance the principle of transparency and competitiveness and for the supportive parties to know the direction of projects for the coming period.

The forum also represents an opportunity for contractors and investors to discover the future projects that are being proposed.

In addition, it represents an exceptional opportunity to build relationships, as it allows contractors and investors to meet with the project owners and learn about the requirements, method of registration and required qualifications.

This will improve their plans and decisions by identifying the time for future projects, their estimated costs, and the qualification mechanism.

The forum will create a network of relationships between project owners, contractors and interested parties to provide an opportunity to build partnerships between the contractors themselves.

The Authority invited all contractors, investors and those interested in attending the forum sessions to register via the linkwww.saudifpf.com

There are several indicators that confirmed the success of the first edition of the forum, which was held in 2019, where the percentage of satisfaction of the participants in that edition was 91, which reflected positively on the interaction by interested parties to participate for the next edition.

In addition, the percentage of participating government and private entities increased from 23 to 35, and the total value of the projects offered increased from about SR450 billion to more than SR600 billion. The expected attendance rate has increased to nearly 2,000 contractors and interested parties.

 

© Copyright 2020 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Construction