Insightful issues presented on day two of Saudi MIP 2012

"According to a report by MEED Insight, in the year 2011 the dominant Saudi-based contractors were executing almost two-thirds of all local project work and more than 80 per cent of construction and infrastructure contracts. Saudi Binladin Group and Saudi Oger was by far the biggest dominant contractor, with an estimated $40billion worth of signed contract work in hand, a fact which needs to be addressed. So, it is time we start think mega solutions as to how midsize contractors can gain business from the Kingdom in the presence of big contractors, to stimulate local economy to reflect healthy increase in GNP," said Mr. Faisal Alfadl.

Mr. Alfadl emphasized upon the importance of recommendations that may conclude out of this conference and inspired the delegates to make the recommendations which would impact the businesses and industry growth in future. He concluded by saying that the Saudi MIP's aims to promote economic prosperity and discuss urbanization and construction infrastructure markets and lastly, advocate for sustainable development.

So, the summit is the first step platform to get answers to all the questions and leave no stone unturned to achieve the objectives and goals of this summit.

In the opening plenary sessions, Ed James, Head of Research, MEED Insight, presented a comprehensive overview on 'Quantifying the Saudi project market: A market data led assessment of the trends and developments in the non-energy infrastructure sectors 2012-2017.'

Abdullah Al Fassam, Senior Project Manager, Saudi Industrial Property Authority (MODON), who was also on the podium, shared his views regarding the summit.

He also said, "It is a great opportunity to meet contractors, consultants and clients and form a network. This can enhance our position in the Kingdom as we are major player of the industry and first choice of local and foreign investors. Delegates with different experiences are here to help understand the government policies find solution to the industry problems and find out a workable solution and it is a great thing for the industry as a whole."

The first panel discussion was focused on defining the challenges and identifying the opportunities in the Kingdom's non-energy projects market in the coming 3-5 years and this discussion included sectors like transport, real estate and urban infrastructure projects.

Khalid Aldughaither, Chairman, Aldughaither for Zones Development and Yassin Al Suroor, Chief Executive Officer, Aamal Group were a part of this discussion session.

H.E Ali Shamis Al Madhani, Judge, Dubai International Financial Centre Courts, said, "It is my first day in the conference and I am highly pleased to be here. I am here to advocate and make industry aware of the ways to find solutions to the challenges they face every day. Dubai International Financial Centre Courts have an open jurisdiction and look into regional claims to provide justice to the entrepreneurs who keep facing big and small challenges."


The other session of the summit included Construction & Transport Infrastructure Projects: Challenges & Opportunities. The panel included Syed Ehtesham Husain, Senior Architect and Engineering Manager, Al-Latifia Trading & Contracting; Hassan Ibrahim, General Manager, Shade Corporation and Hesham Al Homoud, Partner & Head of Corporate Commercial - KSA, Al Tamimi & Company.

Hesham I. Al Homoud said, "The good news is that we have new financial laws in place which will be effective, December onwards, by the end of this year. Such laws did not existed earlier and new laws will simplify a lot of business practices. In this summit the best thing is that numerous business entities are here in one place to discuss various agendas and form a network. I am glad I am a part of it."

Other experts present at the event included Yassin Al Suroor, Chief Executive Officer, Totalsoft Middle East (Aamal Group), Alexandru Militiscu, International Business Development, Totalsoft Middle East (Aamal Group); Emil Rademeyer, General Manager, MEED Cost Indicies, Kevin Connor, Coordinating Partner, Al-Enezee in association with Squire Sanders and Ali Al Madhani, Senior Judicial Officer, DIFC Courts.