On Thursday 14/2/2019, Asharqia Chamber and in cooperation with the Ministry of Housing organized a workshop entitled (revolution of construction technology in housing and its impact on the duration and costs of projects), which was attended by the Secretary General of the Chamber Abdulrahman bin Abdullah Al Wabel.
The workshop has been stressed the importance of introducing modern and innovative techniques in construction, as it shortens the time and costs, and serve as a fertile ground to provide job opportunities for qualified Saudi youth, as well as their contribution to providing effective solutions adopted by the Kingdom, represented by the Ministry of Housing.
This workshop was held in order to raise the awareness of the business sector of real estate developers and manufacturers in future construction methods and enhance their use of modern construction techniques and work on their adoption and resettlement in the construction sector.
During the workshop, the initiative of building techniques and incentives for developers and manufacturers were introduced.
The general supervisor of the initiative, Eng. Mahab bin Mohammed Saleh Benten, and the Director of Business Development Department Eng. Abdullah bin Abdulaziz Al-Wasel talked about the initiative.
A number of positive data emerged from the use of modern technologies in the field of construction and real estate development were presented, as the most important of which is shortening the time and offering a product of lower quality and price.
Official stressed the support of the Ministry of Housing for projects that rely on these modern means, technical support, material and marketing as well.
They stressed that these technologies support the choices of citizens who are looking for a home that is characterized by a set of specifications in line with modern life and look forward to a better future.
Mohammed Al-Abd Al-Muhsin, the Fund's first credit analyst, Saud Al Mazroua, a credit analyst in the Fund, and Abdullah Al Muaither, a technical analyst in the Fun, talked about the services provided by the Industrial Fund.
It was noted that the Fund during the period from 2000 to 2018 has played a key role in advancing industrial development in the Kingdom, as over 2,000 loans were approved during the period with a total value of more than 121 billion riyals, and disbursed more than 84 billion riyals, and the total amounts paid about 52 billion riyals.
The Fund also supported the development of small and medium enterprises and supporting promising areas.
The ratio of loans to small and medium-sized enterprises and promising areas is close to 14% and 30% respectively of the total value of the Fund's loans until 2018.
He pointed out that since the approval of increasing support rates for the promising areas in 2005, loans to these regions increased by 36%.
Speakers noted that the projects financed by the Fund contributed during the period 2000 to 2018 to the growth of the industrial sector through several indicators, as the most important of which is that the industrial output of the funded projects were amounted to about SR 186 billion.
The total investments of projects funded were amounted to about 379 billion riyals and contributed to the provision of direct employment opportunities about 185 thousand jobs with industrial exports worth 112 billion riyals.
Contributing to the purchase of local raw materials worth 143 billion riyals.
Regarding the most important incentives for those wishing to invest in modern construction techniques, they said that the Fund contributes to the financing of working capital up to 6 months, financing up to 75% and disbursing 20% of the loan amount as a down payment, as procedures take up to 4-6 weeks maximum.
Hamid Hamri, head of the real estate development committee, said, "Our Government has directed all kinds of support for sustainable development in the housing sector, which was clearly expressed by the initiatives and programs provided by the Ministry of Housing.
The Building Technology Motivation Initiative aims at addressing the demand gap for affordable housing by stimulating the adoption of innovative building technologies through enabling the sustainability of the construction sector in the Kingdom to become an added value in the national economy."
Asharqia Chamber, in cooperation with the Building Technology Development Program, recognizes the importance of highlighting the initiative and its objectives and its incentives to both developers and manufacturers to localize innovative construction techniques and develop related operational processes.
The meeting witnessed the presentation of the experience of real estate developers with construction technology presented by Eng. Alissa Al Shayeb.
He stated that the use of Cyberx, which was anti-fire, durability, light weight to facilitate bearing and installation.
Cyberx buildings are more sustainable because they are environmentally friendly in manufacturing and execution.
He pointed out that modern technology contributes to reducing the cost of construction by reducing the number of workers and shortening the execution time to 50% at all stages, and the use of this technique contributes to the program of stimulating building technology and supports the training opportunities of Saudi technicians.
