Business & Money | Wednesday 2 March, 2016 10:20 am |

Demanding economic times increase the need for construction contractors to find new ways to remain competitive, both to win bids and ensure current projects are delivered to budget. 

 

In Saudi Arabia, where the construction market remains strong despite the slump in oil prices, analysts Ventures Onsite believe the country is pushing through with its investment plans in the sector, as it looks to mitigate any slowdown felt in other sectors. 

 

“For a number of years now diversifying the economy has been the key driver in Saudi Arabia,” said Andrew Jones, partner and head of construction – Middle East at law firm Dentons and speaker at next week’s The Big 5 Saudi construction exhibition in Jeddah. “Saudi Arabia has consistently demonstrated a drive to diversify its economy away from one reliant solely on hydro-carbons. The changes in the global oil market are likely to provide further momentum to this goal. 

 

“Major infrastructure projects, such as the planned metro works and health facilities investment, would help achieve a certain amount of economic diversification. In addition, foreign investment into Saudi Arabia is expected to increase due to the Kingdom providing direct access to its $570 bn dollar stock exchange to foreign investors.”

 

According to Ventures Onsite some $19.7bn worth of projects are under way in and around Jeddah, helping to create a competitive contracting environment in one of Saudi Arabia’s busiest cities. Securing work here has meant staying on top of the latest advances in construction technology. That will be the aim for the thousands of building, engineering and design professionals that will head to the Jeddah Centre for Forums & Events next week, as the largest international focused construction exhibition in the country gets under way. 

 

The Big 5 Saudi, which takes place over four days from 7 to 10 March, will give visitors the chance to learn about and source the latest international and local construction products and technologies. More than 70 per cent of exhibitors at the event will be international, bringing brand new technologies and ideas to the Saudi construction market, some for the first time. It’s these technologies that could give contractors the edge in winning contracts in some of the most demanding yet rewarding markets the region has to offer.

 

Other features integral to The Big 5 Saudi include a dedicated Concrete Zone and an outdoor PMV Zone where visitors can learn about the latest in concrete technologies, get hands on with plant and machinery and see live demonstrations that will include earthmoving equipment, lifting equipment and tower cranes.

 

This year’s exhibition will also feature more educational opportunities than ever before. The Big 5 Saudi will offer visitors access to diverse certified workshops and seminars, all for free. However, spaces at the sessions are limited so it is essential for visitors to pre-register now to avoid disappointment.