Under the Building Technology Stimulus Initiative, the kingdom will be on the lookout for building tech suppliers to boost MMC
Saudi Arabia has stated that it will be on the lookout for foreign suppliers of building technology while it aims to unveil its flagship digital platform for homebuilders touted as the next “big thing” at The Big 5 – the largest construction exhibition in the region – to be held 25-28 November, 2019, at the Dubai World Trade Centre in the UAE.
According to a statement, the kingdom intends to stimulate the use of modern methods of construction (MMC) to achieve its goal of building 340,000 housing units by 2023.
Commenting on the revolutionary homebuilders platform, chief executive officer of the Building Technology Stimulus Initiative under the kingdom’s Ministry of Housing, Muhab Benten, said: “We are in the final stages of developing a platform that will allow Saudi citizens to ‘self-service’ their new Building Technology home.”
The platform will offer Saudi citizens a way to build homes with ease via a digital platform. Visitors at the BTSI’s booth at The Big 5 event will have the opportunity to glimpse the platform, which will offer untapped opportunities to MMC providers.
The event is showcasing MMCs for the first time. BTSI delegates at the event will also highlight a range of investor services from direct financing to business development services, matchmaking services, among others.
Benten, who will also deliver a speech at the conference about how BTSI is driving the building technology market in Saudi Arabia, said: “We have developed an agency that brings together state and private funding sources, constructors and factories, and of course customers.”
BTSI was established back in 2018 as part of Saudi Arabia’s Private Sector Stimulus plan, with the aim of stimulating the adoption of MMC in the construction sector.
The initiative plays a key role in achieving the kingdom’s Vision 2030 goals, by boosting the supply side of the MMC sector and raising awareness about MMCs benefits. It connects various players in the building industry’s value chain, including MMC providers, contractors, real estate developers, architects, and citizens.