The allocation of 200 thousand square meters for building technology investors.
An agreement between "Building Technologies" and "Industrial Valley" to attract innovative technical.
The "eskan" Program, represented by the Building Technology stimulus Initiative, signed a memorandum of understanding with the King Abdullah Economic City (KAEC) Industrial Valley to attract innovative building technologies, attract local and global investments to develop the economy, localize the building technology industry and contribute to local content by raising the capacity of the local industry. Therefore, developing and building more residential units.
It was also agreed to allocate an area in the Industrial Valley of King Abdullah Economic City to investors in the building technology at competitive prices with the presence of lands to build residential models for investors within the region, with the assertion on making construction technology a priority in the industrial valley projects. The MoU was signed in the office of his excellency minster of the Housing Mr. Majed Al-Hogail in the presence of Mr. Nayef Al-Rasheed, General Supervisor of the Building technology stimulus Initiative Eng. Mehab Benten, and the Head of the National Industrial Development and Logistics Program, Dr. Abid Al Saadoun.
In turn, Engineer Mohabab Benten said that this step is in line with the Saudi vision 2030 in support of the objectives of the National Transformation program 2020. "The eskan Program and the National Industrial Development and Logistics Program represented by the Building Technology stimulus initiative are one of the private sector incentive plan initiatives to create innovative technological innovations Through the acquisition of expertise in this field, and strive to localize these technologies and their inclusion in the Saudi market, to achieve the objectives of enabling the industry in the building sector, in addition to promoting investment in human capital to be able to implement the outputs of these Techniques ".
He added that this agreement contributes significantly to the realization of the Saudi vision 2030 on housing by raising the percentage of homeownership among citizens to 70%. He pointed out that modern building techniques have become a global destination in the developed countries because of their speed of implementation and the quality of building. pointing out that the wise leadership is always keen to provide all housing options for citizens through the launch of several programs and initiatives for housing.
"This agreement aims to reduce the cost and time required to build housing units, which will increase the annual construction capacity and level of quality, enhanced the contribution of the construction sector in generating employment opportunities for the citizens," asserted Dr. Abed Al Saadoun, head of the National Industrial Development and Logistics Program. Besides, utilizing from local power in the kingdom to ensure the capacity of building and activating related industries "BTS" will greatly contributed in stimulate and support the private sector to implement the highest standards of efficiency and technology, including local content development, to enhance competitiveness and improve Consumer confidence in the national product.
An area has been set aside for investors in building technology at competitive prices.
On the other hand, the Executive Chairman of the Industrial Valley of King Abdullah Economic City, Eng. Ayman Mansi, stressed that under this memorandum, an area in the Industrial Valley was allocated for building technology qualified investors by the initiative with an approximate total area of 200 thousand square meters, divided into 9 areas with about 20 thousand square meters per land, and at competitive prices for building technology qualified investors by the initiative.
Eng. Mansi pointed to the importance of the role and efforts of those who are " building technology stimulus" in promoting and attracting national and international investments in the Kingdom and activating this initiative as one of the many practical outcomes of the Saudi vision 2030. Which investors need in this area. Stressing the commitment of the industrial valley department in the Economic City to provide full support and all the facilities needed by investors in this area.