The highly anticipated Saudi Giga Projects 2024 took place today, bringing together government entities, developers, contractors, consultants, suppliers and thought leaders to explore the transformative projects spearheading Saudi Arabia’s Vision 2030.
Hosted by MEED and Enso Events Solutions at Hilton Riyadh Hotel and Residences, Saudi Giga Projects 2024 featured a dynamic program of keynote speeches and panel discussions delivered by over 30 expert speakers, highlighting the latest trends, technologies, and investment opportunities within the Kingdom’s ambitious giga projects landscape.
Riyadh Region Municipality is the Diamond Partner for Saudi Giga Projects 2024.
Over 600 decision-makers from over 150 companies across the construction ecosystem convened at this prestigious event for a comprehensive overview and in-depth exploration of the diverse range of giga projects underway in Saudi Arabia. These projects, totalling US$880 billion at the last count according to MEED data, span various sectors including tourism, residential, commercial and industrial, demonstrating the Kingdom’s commitment to economic diversification and growth.
The opening keynote panel session, with panellists Dr Fahad Bin Mushtayt, CEO of ASFAR; Mohamed Saad, President of Diriyah Company, Giles Pendleton, COO of THE LINE; Oussama Kabbani, Group Chief Development Officer at ROSHN; and Salman Alhubeis, Executive Director of Delivery at the New Murabba destination touched on the main project development, including increasing labour costs, tight engineering capacity, and supply chain management, as well as emphasising the importance of sustainability in construction and industrialisation.
Mohamed Saad, President of Diriyah Company, said: “The market is exploding for contractors. We are seeing companies coming to Saudi Arabia almost every day – consultants, contractors – from along the supply chain. I’m hoping that the market will supply what we need and close the gap as much as possible.”
Giles Pendleton, COO of THE LINE, commented: “Tier one and tier two contractors are always busy, which is a challenge – but it’s a good challenge, because what it does is open up opportunities within the Kingdom to rethink about its industrial base. We have a lot of land, cheap energy, and good human capital coming through- that should be the perfect mix to industrialise the supply chain”.
“When the Kingdom industrialises on the back of the massive opportunity that giga projects quantities and materials offers, there is a huge opportunity to be completely ahead of the pack” Pendelton added.
Over the course of the day, participants heard updates on and in-depth insights into key Saudi giga projects, including Riyadh City, Trojena, New Murabba, Diriyah, Soudah Peaks, King Salman Park, Sports Boulevard, Red Sea Global, and the Jeddah Historical District, as well as a deep dive into the opportunities and challenges faced by developers and contractors in the successful execution of project programs. Saudi Giga Projects 2024 also provided a platform for networking and collaboration, offering attendees the opportunity to forge partnerships and explore the massive potential of Saudi Arabia’s projects market.
“We are thrilled to host Saudi Giga Projects 2024, which serves as a platform to showcase the Kingdom’s ambitious vision and the remarkable progress being made in its giga projects sector, pioneering new standards globally for project delivery at scale” said Ed James, Head of Content & Research MEA at MEED – GlobalData. “This event is a testament to Saudi Arabia’s commitment to driving innovation, fostering economic growth, and creating a sustainable future for generations to come.”
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