(MENAFN - Arab News) A three-day infrastructure projects summit to highlight the opportunities in the non-energy infrastructure projects market sector of the Kingdom will kick off Sunday at the Marriott Hotel in Riyadh.
The Saudi Mega Infrastructure Projects Summit is organized by Meed Events in cooperation with the Ministry of Commerce and Industry.
The summit aims to provide an exclusive opportunity to its participants by enabling them to gain an unprecedented insight and access into the biggest projects market in the MENA region. Due to strong demographic growth, high oil prices and a capital investment program backed by strong political support, Saudi Arabia is today the largest projects market in the region since it overtook the UAE in 2010.
The MIP Summit focuses on the development of mega projects in the Kingdom, the region's largest construction sector. The core sectors that are driving the massive growth in construction activity - transport infrastructure (road, rail, aviation), social infrastructure (education, health care), and utilities infrastructure (power and water, desalination, renewable energy, waste management) - will be discussed.
The activities of the event are divided into a Saudi Rail Focus Day and two days dedicated to conference coinciding with the World Green Building Week of Sept. 17 to 24.
The Saudi Rail Focus Day will offer a profound vision into the rail sector in Saudi Arabia and the opportunities attached to it for both local and international contractors, consultants and specialist rail service providers.
The World Green Building Week aims to facilitate a global transformation of the building industry and its mega projects toward sustainability through market-driven mechanisms. Faisal S. Alfadl, founder of the Saudi Green Building Council and member of the World Green Building Council, will bring to light the key role buildings play in conserving resources, saving money and creating jobs while providing healthier places to live and work.
"Participation in the summit is an effort to put forward another quintessential step to raise awareness about energy-efficient infrastructure by receiving and sharing related knowledge. Our support to the World Green Building Week is crucial, as it will further enhance the outcome of the Saudi Mega Infrastructure Projects Summit. Combining mega projects with green building or energy-efficient infrastructure technologies will be very advantageous, both economically and socially," said Edmund O' Sullivan, chairman of Meed Events.
A number of prominent professionals confirmed attending the summit and hoped they will contribute in a substantial way to its outcome and recommendations.
High-profile personalities from the Saudi government, local and international construction contractors, construction and engineering consultants, architecture and project master-planning specialists, material and equipment suppliers, project management consultants, legal firms, financial advisory companies and banks will also be represented.
Many contractors, suppliers and vendors believe Saudi Arabia has become the No. 1 opportunity in the region, as Meed forecasts that over 80 billion worth of major contracts will be awarded in 2013. This figure indicates an approximate 36 percent increase from 2011. Moreover, with a gigantic projects industry still creating business opportunities, the Saudi Mega Infrastructure Projects Summit will become a platform for those who are willing to enter the Saudi market and wish to strengthen their profile in the Kingdom.
To enable the MIP Summit to achieve its aims and objective that are set forth by the organizing committee, the summit has been specifically designed to provide a detailed overview of opportunities and networks in the core non-energy project sectors of Saudi Arabia. Strategic panel sessions will focus on the challenges, issues and projects that are shaping the transport, health, education, social, and power and water sectors.