ICCE to spotlight Saudi contracting sector

The Saudi construction sector is undergoing a massive transformation with a number of major building projects being planned at the moment.
Updated 13 September 2018
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ICCE to spotlight Saudi contracting sector

A new exhibition and conference dedicated to Saudi Arabia’s contracting sector is launching in Riyadh next week, where government authorities, regulators, and key industry players will join forces to develop the Kingdom’s $1.4 trillion construction market. 

The 1st International Contracting Conference and Exhibition (ICCE), will take place from Sept. 16-17 at the Riyadh International and Convention and Exhibition Center.

The two-day event is held under the patronage of Dr. Majid bin Abdullah Al-Qassabi, Saudi minister of commerce and investment, and hosted by the Saudi Contractors Authority, a newly formed government authority responsible for regulating the Kingdom’s contractor industry and increasing mergers and acquisitions in a market where construction projects are expected to surge in the coming years. 

According to Project Intelligence Platform Ventures ONSITE, as of September 2018, the total value of Saudi construction-related projects, comprising buildings, industrial, power and water, oil and gas, and infrastructure, is estimated to be worth $1.4 trillion. Meanwhile, new Saudi construction contractor awards are estimated to grow to $44.1 billion in 2019, compared to 2018’s value of $26.3 billion. 

Thabet Mubarek Al-Sawyeed, governor of the Saudi Contractors Authority (SCA), said the 1st ICCE is formed under the guidance of Saudi Vision 2030. “As part of Vision 2030, Saudi Arabia is going through immense change, and part of this change is to achieve a sustainable contracting sector for the Kingdom,” said Al-Sawyeed.

“In line with King Salman’s vision, the SCA’s mandate is to organize, develop and regulate Saudi’s contracting industry, enabling it to build competent capabilities and to raise the standards produced by the sector, thereby establishing a safe and secure work environment.

“We’re therefore launching the ICCE under the theme of ‘Building the future with confidence.’ Its aim is to not only create business opportunities, but to solve challenges in the contracting industry, encourage creativity, enhance communications, educate, facilitate and advocate not only SCA members, but the construction industry as a whole,” added Al-Sawyeed.

The 1st ICCE is co-organized by Messe Frankfurt Middle East, and Saudi-based ACE Exhibitions. Key sponsors onboard for the inaugural showpiece include Strategic Diamond Partner Al-Bawani; Platinum Partners Riad Bank and Shibh Al-Jazira Contracting Company; Gold Partners SAPAC and ANB; and Silver Partners Nesma and Partners Contracting, Saudi Tumpane, Mohammed Al-Ojaimi Group, and TAMIMI Pre-Engineered Buildings.

Ahmed Pauwels, CEO of Messe Frankfurt Middle East, said: “The Saudi Arabian construction sector is undergoing a massive transformation, with the likes of Neom Business City and The Red Sea Project just a couple of examples of major building projects being planned at the moment.” 

The two-day summit features an expert panel of more than 35 speakers. 


Golden Gate Developers unveils newest project

Golden Gate will be developed over 140,000 square meters providing views of the waterfront and iconic Bahraini landmarks.
Updated 13 November 2018
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Golden Gate Developers unveils newest project

Golden Gate Developers launched their residential development project Golden Gate on Saturday at the Four Seasons Hotel in Bahrain Bay. The project is a result of a joint venture between Bahraini-based company Kooheji Golden Gate and Indian real estate companies Ajmera Realty and Mayfair Housing.

The launch event was open to the public, who had an exclusive first look at the property in its entirety. Guests were also treated to a 360-degree virtual reality tour, where they were able to walk through the property and have a virtual experience of living in their homes. 

Chairman of Kooheji Golden Gate Ishaq Al-Kooheji said: “The innovation and creativity that we have shown will only propel Bahrain into the spotlight, making the Kingdom an exemplar of excellence in the real estate industry.”

Manoj Ajmera, managing director of Ajmera Realty, said: “We are thrilled with the way the launch has taken off and are expecting only bigger and greater successes for the Golden Gate project and our growing relationship with the Kingdom of Bahrain.”

Real estate firms Ajmera Realty and Mayfair Housing have delivered a number of commercial and residential spaces in India.

This partnership aims at fostering a long-lasting relationship between these two nations and attracting more foreign investment into the country. 

The property will be situated in the heart of Bahrain Bay, one of the most desirable locations for residential and commercial developments in the country where amenities and transport links are easily accessible for residents to enjoy. Golden Gate will be developed over 140,000 square meters providing views of the waterfront and iconic Bahraini landmarks.

The project will feature a “modernistic interpretation of traditional architecture” and aims to become the tallest residential towers in the country, consisting of two towers with 45 and 53 stories and a total of 746 luxurious apartments, starting at 45,000 Bahraini Dinar ($119,380). The development fuses both Bahraini and Indian cultures, paying homage to their rich cultural backgrounds. 

Nayan Shah, chairman of Mayfair Housing, said: “Bahrain was a great choice for our first international venture as Golden Gate Developers, and Bahrain Bay was the best place to begin our journey. We are impressed with the country’s business-friendly mentality and strong work ethic, which enabled us to create possibilities such as the Golden Gate project, which we hope to make a prestigious landmark.”