Mastercard: Smart cities key to a more connected MEA

Mastercard was a sponsoring patron at the recent World Cities Summit in Singapore.
Updated 23 July 2018
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Mastercard: Smart cities key to a more connected MEA

Mastercard, a leading technology company in the global payments industry, continues to champion the fundamental role of smart cities in enabling a more connected and inclusive future for the Middle East and Africa (MEA). The company reaffirmed its commitment to supporting the development of smart cities through meaningful partnerships with both the public and private sectors at the recent World Cities Summit in Singapore, where Mastercard was a sponsoring patron.
Markets across the region are already heavily investing in the future of cities, with figures from the International Data Corporation forecasting that spending on technologies that enable smart city initiatives will reach $1.26 billion in MEA in 2018.
Commending the exceptional efforts of regional governments in implementing smart city initiatives and creating more opportunities for their cities’ transformation into vibrant hubs for innovation, Mastercard experts at the summit shed light on the significance of a “public-private-people (3P)” model and data analytics as key enablers of the technologies that will open doors to the cities of the future.
“An inclusive future for all is a shared responsibility and we believe that effective collaborations hinged on a dynamic public-private-people model is the way forward if we want to unlock the full potential of our cities. Mastercard is focused on making cities more efficient and inclusive by enabling ecosystems that benefit residents, visitors and local businesses. The key to the success of these cities is partnerships, and we will continue to engage with governments, NGOs and leaders in innovation to enable a smarter and more connected future for all,” said J.K. Khalil, cluster head, Saudi Arabia and Bahrain, Mastercard.
As part of its participation at the summit, Mastercard welcomed a delegation of the region’s most prominent journalists and influencers, where it facilitated in-depth discussions with industry experts and showcased the latest technologies to demonstrate and build advocacy for smart and connected cities.
With two billion adults around the world still lacking access to financial services, Mastercard is helping advance inclusive communities globally through its collaborations. The company has partnered with over 60 governments globally to deliver more than 1,600 scalable programs in various cities and communities around the world.


32 countries taking part in Saudi Build 2018

Saudi Build 2018 will be held in conjunction with Saudi Stone Tech 2018 and Saudi PMV Series 2018. All three events will give visitors deep insights into the latest innovations and developments in the construction sector. (AFP)
Updated 22 October 2018
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32 countries taking part in Saudi Build 2018

The Riyadh Exhibitions Company Ltd. is hosting Saudi Build 2018 from Monday to Thursday at the Riyadh International Conference and Exhibition Center. The Saudi Export Development Authority, which seeks to strengthen Saudi Arabia’s non-oil exports in line with Saudi Vision 2030, is the event’s platinum sponsor. 

The event comes at a time when the Saudi building equipment market is steadily growing. The industry is expected to achieve a compound annual growth rate of 3.1 percent between 2017 and 2022. 

The 30th edition of the largest international construction technology and building materials exhibition in Saudi Arabia brings together local and international experts, decision-makers, and leaders to discuss emerging investment opportunities arising from the government’s $3.5 billion allocation for the construction of roads and bridges this year. Allocating higher funds aims to further diversify the Kingdom’s economy in line with Saudi Vision 2030.

Mohammad Al Al-Sheikh, head of marketing, Riyadh Exhibitions Company Ltd., said: “Saudi Build 2018 is taking place amid increased construction activities, especially in the industrial and commercial sectors, in the local market in keeping with the goals of the National Transformation Program 2020 and Saudi Vision 2030. The event will give all participants a direct access to the promising opportunities the Saudi market has to offer. Investors interested in entering the domestic market and beating the competition will benefit from the event. This year, it will focus on sustainable construction, which plays a key role in the government’s economic diversification plan and sustainability goals. Investors and decision-makers from the government and private sectors are expected to attend to explore current and future construction projects in Saudi Arabia. The construction sector now accounts for 45 percent of the total construction industry in the Middle East.”

Saudi Build 2018 will be held in conjunction with Saudi Stone Tech 2018 and Saudi PMV Series 2018. All three events will give visitors deep insights into the latest innovations and developments in the construction sector. Saudi Build 2018 is expected to bring together 512 exhibitors from 32 countries and more than 15,000 visitors who will participate in the event’s interactive presentations and workshops.

Al Al-Sheikh added: “Saudi Build 2018 is a result of our long efforts to create a world-class platform for local, regional and international building and construction industry leaders, backed with 38 years of experience in organizing a series of leading exhibitions and conferences that contribute to the growth of the Saudi economy. We are optimistic that the event will further enhance the confidence of the international community in the domestic construction industry. 

The value of the country’s current construction projects is at $284.3 billion, while over 700 projects are expected to be launched in the coming months and to be completed by 2022.”