Al Saedan Real Estate Development Company has entered into an agreement with a Japanese technology company to create an industrial technical transformation in the real estate sector in the Kingdom.
The agreement aims to establish a modern building technology factory located in the Riyadh region, which it is envisaged will raise the construction sector’s contribution to the nation’s GDP from 3.5% to 15%. It will also prepare rehabilitation and training programs for citizens to transfer knowledge and localize technology, training 100 people in the first year.
Scheduled to begin in 2023, the first production operations at the factory will utilize new state-of-the-art technology, allowing for the manufacture of 1,200 villas annually. These will incorporate environmentally friendly standards and allow individual citizens to choose the appropriate design for their homes. The whole system will reduce the operational cost and save approximately 40% of the energy cost.
Raise the construction sector’s contribution to the GDP from 3.5% to 15%
Mashael Saeedan, Chairman of the Board of Directors of Al Saedan Company, said that the factory will work to establish smart cities, future technologies, and transfer knowledge and technology to the Kingdom. He further indicated that the customer will be able to design their home according to individual needs and desires and receive it within a period not exceeding 90 days.
Saving about 40% of the energy cost
The partnership agreement was signed by the Chairman of the Board of Directors of Al Saedan Real Estate Development Company, Mishael Saeedan, in the presence of a number of real estate professionals and those with an interest in the technology sector from both the Saudi and Japanese sides. This is the first agreement between the two countries in the field of developing construction technologies.
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