Housing Minister: More than 133,000 firms in Saudi construction sector

RIYADH — Saudi Housing Minister Majid Al-Hogail said that the construction sector in Saudi Arabia has more than 133,000 establishments with over 1.6 million individuals participating daily in building a new reality: smart cities and integrated development.
Al-Hogail noted that project management gives organizations greater predictability, responsiveness, and execution, and improves performance and raises the quality of achievement.
He emphasized that Saudi Arabia's Vision 2030 outlines an ambitious future that reshapes the economic, social, and development landscape.
The minister explained that project management has become a strategic approach and an essential tool for leading change and achieving sustainable impact, and is no longer an executive option. He noted that the National Projects Council is playing a growing role in unifying efforts and enhancing performance.
He added, "Government project management offices contribute to enhancing planning, follow-up, and governance practices, ensuring quality implementation and consistency with national goals." This came during his inauguration of the Global Project Management Forum (GPMF 2025), hosted by the capital, Riyadh.
The GPMF is one of the prominent international events in this field, bringing together more than 13,000 specialists and interested parties from at least 100 countries. There will be 120 international speakers, 60 dialogue sessions and 16 training workshops. The event reflects the position that Saudi Arabia occupies in leading developmental and institutional transformations at the global level.
© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Arabian Post

21 hours ago

• Arabian Post

OPEC+ Emerges as Pillar of Oil Market Stability

Saudi Energy Minister Prince Abdulaziz bin Salman told delegates at the St Petersburg Economic Forum on 19 June that OPEC+ has evolved into a 'key guarantor' of global oil prices and market stability. The alliance's capacity to respond to evolving economic and geopolitical realities distinguishes it as an effective and trustworthy instrument for safeguarding the sector. At the forum, Prince Abdulaziz emphasised that OPEC+ adapts proactively to prevailing conditions. He was clear that any action by Riyadh or Moscow to offset potential disruptions in Iranian oil exports will be guided strictly by actual developments. 'We only react to realities,' he stated, declining to engage in hypotheticals—a stance aligned with OPEC+'s collective decision-making framework. Analysts say his comments come amid a sharp surge in crude prices, driven by escalating tensions following an Israeli assault on Iranian nuclear infrastructure. According to Reuters, Brent crude has climbed more than $10 per barrel in just one week, inflating the geopolitical risk premium. Despite this volatility, there has been no significant disruption to Middle Eastern oil exports to date. ADVERTISEMENT Prince Abdulaziz underscored the cohesive nature of OPEC+, which comprises 22 member countries. He affirmed that decisions are taken collectively rather than unilaterally by dominant players, a principle reaffirmed by his preference to 'react to realities' rather than speculation. The alliance's next meeting is scheduled for 6 July, when eight core producers—including Saudi Arabia, Russia, the UAE, Iraq, Kuwait, Oman, Algeria and Kazakhstan—will discuss production levels for August and beyond. Global demand forecasts also featured prominently in forum discussions. OPEC Secretary General Haitham Al Ghais noted increasing consumption in developing economies, especially during the northern hemisphere summer, reinforcing the need for calibrated production policies. Meanwhile, Kirill Dmitriev, head of Russia's RDIF, suggested that Russia, Saudi Arabia and the United States might reprise their 2020-era role in stabilising oil markets, citing historical precedents from the pandemic response. Despite the ability to moderate price swings, the alliance faces internal tensions. In May, Saudi Arabia and Russia spearheaded a 411,000 barrels‑per‑day production increase, despite earlier preferences among some members for a pause. Leaks from the meeting revealed discontent with non-compliant producers, prompting Riyadh to push through the increase to protect its market interests. Analysts suggest this indicates a strategic pivot: reclaiming market share over propping up prices alone. Meanwhile, geopolitical variables are influencing OPEC+ strategy. Rising tensions in the Strait of Hormuz, following conflict between Israel and Iran, have elevated concerns of supply disruption. However, as of mid‑June, the vital maritime route continues to operate without incident. The U.S. is reportedly weighing deeper engagement in the region, a development that could further complicate supply dynamics and pricing. The energy minister also highlighted collaboration beyond output quotas. Saudi Arabia and Russia are advancing joint efforts to create investor-friendly environments through joint ventures in energy and related sectors. Prince Abdulaziz confirmed plans for Russian Deputy Prime Minister Alexander Novak to visit Riyadh later this year, accompanied by a large business delegation. He said the initiative aims to 'deepen bilateral economic ties and foster diversified investment opportunities,' affirming both countries' commitment to mutual investment facilitation. These comments reinforce the perception of OPEC+ as a stabilising force comparable to a central bank's role in financial markets. Prince Abdulaziz described the alliance as 'the central bank and regulator of the global oil market,' emphasising its flexibility and responsiveness to global economic shifts. He further noted the Kingdom's support for Russia amid external pressures, affirming Riyadh's diplomatic solidarity. Looking ahead, OPEC+ is poised to navigate the balance between maintaining price stability and managing production share. The upcoming 6 July meeting will be pivotal in determining whether the group confirms further increases or holds current output steady amid signal mixed signals from demand forecasts and geopolitical uncertainty.

Broadcast Pro

a day ago

• Broadcast Pro

ST Engineering iDirect and solutions by stc to advance satcom services in KSA

Under this deal, solutions by stc has significantly expanded its ST Engineering iDirect ground network by incorporating advanced products designed for both fixed and mobile applications. ST Engineering iDirect has entered a strategic partnership with solutions by stc to enhance satellite communication services across Saudi Arabia, in alignment with the Kingdom’s Vision 2030. The collaboration aims to accelerate the nation’s digital transformation by leveraging local satellite assets to deliver secure, resilient, and adaptable connectivity across a wide range of sectors. As part of this initiative, solutions by stc has significantly upgraded its ST Engineering iDirect ground infrastructure, integrating advanced technologies to support both fixed and mobile applications. These improvements will enable the delivery of reliable and scalable satellite connectivity to key customers, including government agencies, enterprises, and telecom operators. With software-upgradable solutions at its core, the network is well-positioned to evolve alongside Saudi Arabia’s rapidly expanding digital landscape. The Kingdom’s digital economy is on a fast growth trajectory, expected to increase from $55.15bn in 2025 to $90.25bn by 2030. This partnership enhances solutions by stc’s capacity to meet growing demand for high-speed, cost-efficient communications and strengthens its role in supporting Saudi Arabia’s ambitious development goals. Commenting on the collaboration, Don Claussen, CEO at ST Engineering iDirect, said: 'This collaboration with solutions by stc is a testament to our shared vision of delivering advanced connectivity solutions that empower digital transformation across the Kingdom. We are honored to contribute to Saudi Arabia’s efforts in building a robust, future-ready connectivity framework.' By combining local expertise with cutting-edge satellite technology, the partnership marks a major step forward in expanding the Kingdom’s digital infrastructure and fulfilling the connectivity needs of its Vision 2030 agenda.

Dubai Eye

2 days ago

• Dubai Eye

Saudi PIF launches new company to deliver Expo 2030

Saudi Arabia's sovereign wealth fund PIF has launched a new unit that will be responsible to build and operate the facilities of Expo 2030 Riyadh – Saudi Arabia's first World Expo. Expo 2030 Riyadh Company (ERC) will develop Expo as a model for sustainable tourism and preserve the event's legacy. The masterplan for Expo 2030 Riyadh covers an area of 6 million square metres, making it one of the biggest World Expo sites. It will be located to the north of the city, near the future King Salman International Airport, and with direct connections to the Saudi capital's landmarks. Expo 2030 Riyadh is projected to attract more than 40 million visits. After the event, ERC plans to lead the transformation of the Expo's gated area into a global village to serve as a multicultural hub for retail, food and beverage, surrounded by an international residential community, and setting new standards in sustainable tourism. ERC is swiftly launching operations to fulfill its mandate, and will partner with the local and global private sector to achieve its goals for construction, cultural programming and event management. Expo 2030 Riyadh runs from October 1, 2030 to March 31, 2031 and will further strengthen the city's attractiveness to international businesses. Riyadh was awarded the hosting rights for Expo 2030 in November 2024, winning the vote in the first round. During its construction phases, Expo 2030 Riyadh and its legacy are projected to contribute around $64 billion to Saudi GDP and generate approximately 171,000 direct and indirect jobs. #PIF today announced the launch of Expo 2030 Riyadh Company (ERC), #aPIFcompany to build and operate the facilities of #Expo2030Riyadh - Saudi Arabia's first World Expo - as well as preserving the legacy of the event. Learn more: — Public Investment Fund (@PIF_en) June 19, 2025