Latest news with #MarcoFahd
Zawya
20-05-2025
- Business
- Zawya
Building the future: Priorities for construction sector in Gulf region
Gulf construction firms are at a pivotal moment, driven by the scale, speed, and complexity of growth across the region. As the Gulf races to deliver over $1.5 trillion in transformative projects, firms are being called on to build faster, smarter, and more sustainably than ever before. A new white paper from Versatile International, 'Construction in 2025: Paving the Way to 2030 and Beyond,' offers a strategic roadmap for the future - defining four clear priorities that construction firms must embrace to remain competitive and future-ready. The white paper draws on insights from Versatile's inaugural Construction Pulse Survey, conducted by Ipsos, which engaged senior construction professionals across the UAE and Saudi Arabia. While the data highlights key pressures and expectations, the paper's core focus is on actionable strategies to help the sector lead the next phase of growth. 'There's huge ambition in the Gulf right now and the construction sector is right at the centre of it,' said Marco Fahd, Chairman and CEO of Versatile International. 'However, the way we build needs to catch up. The good news is, we're already seeing some of the most ambitious and forward-thinking projects in the world taking shape right here in the Gulf - and that momentum is only growing.' The four strategic priorities outlined in the white paper are: 1. Embracing AI and automation as essential enablers of efficiency. According to the report, 57% of construction professionals in the UAE and KSA see AI and automation as the most significant trends influencing the sector. In the UAE, this rises to 61%, reflecting a more advanced digital transformation journey. Already, 60% of firms are integrating AI-powered tools into project management processes - though barriers such as inconsistent adoption and high upfront investment remain. 2. Embedding sustainability at every stage of delivery. In the UAE, 72% of surveyed professionals already rank sustainability as a top priority, with 31% doing so in Saudi Arabia - an emerging but rapidly growing focus. More than half of the respondents are prioritising local sourcing to improve supply chain resilience. At the same time, 64% of UAE-based professionals cited regulatory changes as a pressure point as firms work to align with national decarbonisation goals. 3. Reimagining supply chain models for resilience. The report finds that 55% of professionals now prioritise regional supply chains, while nearly half still value international procurement for specialist materials. This trend reflects a move toward hybrid models that balance reliability, quality, and cost. 4. Building future talent pipelines and reducing inefficiency. Rework is now the leading cause of project cost inflation, cited by 57% of respondents. This is often linked to gaps in planning, training, and workforce capabilities. Meanwhile, 42% of firms say they allocate 5–10% of their budgets to rework contingencies. Labor shortages - especially in skilled trades - are a growing concern, with 56% anticipating continued challenges over the next decade. Firms are increasingly turning to automation and skills development to close the gap. These priorities offer a blueprint for a sector under transformation. They reflect not just challenges to overcome, but opportunities to lead - with data from the Construction Pulse Survey providing the rationale behind each focus area. The white paper also brings together a diverse range of voices - including developers, architects, engineers, contractors, and consultants - to provide a multi-dimensional view of where the industry stands, and where it's headed. Versatile International is the Middle East's first fully integrated project management consultancy, specialising in destination-scale real estate development projects. With offices in Dubai and Riyadh, the company provides asset developers with supply chain certainty, risk mitigation, and procurement excellence. Versatile International is part of the Versatile Group, Australia's leading end-to-end real estate development and construction company. – TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
19-05-2025
- Business
- Trade Arabia
Building the future: Priorities for construction sector
Gulf construction firms are at a pivotal moment, driven by the scale, speed, and complexity of growth across the region. As the Gulf races to deliver over $1.5 trillion in transformative projects, firms are being called on to build faster, smarter, and more sustainably than ever before. A new white paper from Versatile International, 'Construction in 2025: Paving the Way to 2030 and Beyond,' offers a strategic roadmap for the future - defining four clear priorities that construction firms must embrace to remain competitive and future-ready. The white paper draws on insights from Versatile's inaugural Construction Pulse Survey, conducted by Ipsos, which engaged senior construction professionals across the UAE and Saudi Arabia. While the data highlights key pressures and expectations, the paper's core focus is on actionable strategies to help the sector lead the next phase of growth. 'There's huge ambition in the Gulf right now and the construction sector is right at the centre of it,' said Marco Fahd, Chairman and CEO of Versatile International. 'However, the way we build needs to catch up. The good news is, we're already seeing some of the most ambitious and forward-thinking projects in the world taking shape right here in the Gulf - and that momentum is only growing.' The four strategic priorities outlined in the white paper are: 1. Embracing AI and automation as essential enablers of efficiency. According to the report, 57% of construction professionals in the UAE and KSA see AI and automation as the most significant trends influencing the sector. In the UAE, this rises to 61%, reflecting a more advanced digital transformation journey. Already, 60% of firms are integrating AI-powered tools into project management processes - though barriers such as inconsistent adoption and high upfront investment remain. 2. Embedding sustainability at every stage of delivery. In the UAE, 72% of surveyed professionals already rank sustainability as a top priority, with 31% doing so in Saudi Arabia - an emerging but rapidly growing focus. More than half of the respondents are prioritising local sourcing to improve supply chain resilience. At the same time, 64% of UAE-based professionals cited regulatory changes as a pressure point as firms work to align with national decarbonisation goals. 3. Reimagining supply chain models for resilience. The report finds that 55% of professionals now prioritise regional supply chains, while nearly half still value international procurement for specialist materials. This trend reflects a move toward hybrid models that balance reliability, quality, and cost. 4. Building future talent pipelines and reducing inefficiency. Rework is now the leading cause of project cost inflation, cited by 57% of respondents. This is often linked to gaps in planning, training, and workforce capabilities. Meanwhile, 42% of firms say they allocate 5–10% of their budgets to rework contingencies. Labor shortages - especially in skilled trades - are a growing concern, with 56% anticipating continued challenges over the next decade. Firms are increasingly turning to automation and skills development to close the gap. These priorities offer a blueprint for a sector under transformation. They reflect not just challenges to overcome, but opportunities to lead - with data from the Construction Pulse Survey providing the rationale behind each focus area. The white paper also brings together a diverse range of voices - including developers, architects, engineers, contractors, and consultants - to provide a multi-dimensional view of where the industry stands, and where it's headed. Versatile International is the Middle East's first fully integrated project management consultancy, specialising in destination-scale real estate development projects. With offices in Dubai and Riyadh, the company provides asset developers with supply chain certainty, risk mitigation, and procurement excellence. Versatile International is part of the Versatile Group, Australia's leading end-to-end real estate development and construction company. – TradeArabia News Service
Al Arabiya
19-05-2025
- Business
- Al Arabiya
Saudi Arabia construction tops $1.5 trillion as Kingdom presses ahead with ‘giga projects'
Saudi Arabia has emerged as the world leader in mega construction projects, with a massive $1.5 trillion in active developments and 'giga projects' transforming the Kingdom's landscape and economic future, according to a new industry report. The white paper, 'Construction in 2025: Paving the Way to 2030 and Beyond', released by Versatile International, reveals the Kingdom's construction sector is undergoing fundamental changes driven by Vision 2030, ambitious sustainability goals, and rapid adoption of technological advancement. Vision 2030 fuels construction boom Saudi Arabia's construction market stands at the center of a global transformation, with the Kingdom's Vision 2030 program driving diversification and reducing reliance on the oil sector. The trillion-dollar development pipeline includes some of the world's most ambitious projects, including the $500 billion mega project NEOM, Diriyah Gate, Jeddah Central, and the King Salman International Airport. 'Currently, Saudi Arabia is in the midst of one of the most ambitious building agendas globally -- with the scale unlike anything we've seen before,' Marco Fahd, chairman and CEO at Versatile International, told Al Arabiya English. 'As our research showed, professionals in the Kingdom are navigating an industry that is leading the charge in MENA -- accounting for almost 40 percent of project value in the region.' The construction boom extends beyond infrastructure, creating entirely new economic sectors in tourism, technology, and entertainment that are attracting investment and generating employment opportunities throughout the Kingdom. AI revolutionizing construction sector Saudi Arabia's construction landscape is being revolutionized by artificial intelligence and widespread automation, with 57 percent of professionals in the Kingdom identifying AI as the most significant trend shaping the industry. 'The majority of professionals we surveyed told us AI integration is already reshaping how projects are managed, while rework, budget overruns, and skilled labour shortages are being actively addressed,' said Fahd. According to the report, 60 percent of construction professionals are already integrating AI-powered project management tools to improve scheduling and resource allocation. This shift toward digital transformation is helping optimize scheduling, reduce rework, and enhance supply chain efficiencies across major developments. Projects like Qiddiya are setting new standards by embracing AI-powered project management tools and Building Information Modeling (BIM) to enable real-time tracking of progress, predictive maintenance, and optimized resource allocation. Sustainability has transitioned from a competitive advantage to an industry-wide imperative in Saudi Arabia's construction sector. The report indicates 31 percent of professionals in the Kingdom identify sustainability as a key focus area, with increasing regulatory pressures and environmental concerns driving this change. Saudi Arabia's giga projects are actively integrating AI-driven resource management to align with sustainability goals while managing unprecedented scale and complexity. Projects like NEOM are incorporating renewable energy sources like solar and wind power into infrastructure while utilizing sustainable building techniques and environmentally friendly materials. Construction boom fuels global talent demand The construction boom is challenging traditional supply chain models, with 55 percent of construction professionals in Saudi Arabia prioritizing regional supply chains to enhance economic resilience and reduce transportation emissions, according to the report. Saudi Arabia's push to reduce reliance on foreign imports includes increasing use of locally quarried limestone for megaprojects, demonstrating a commitment to both sustainability and economic independence. However, the report notes that exclusive reliance on local resources remains unrealistic, with 48 percent of professionals highlighting the continued importance of international partnerships. 'Cost increases were cited as the leading challenge by professionals in the region - but this reflects the reality of delivering at this scale and speed,' said Fahd. 'Projects such as Qiddiya and NEOM are complex -- especially when sustainability and national development targets are factored in.' As demand accelerates, addressing workforce development has become a critical priority. The report highlights that labor shortages remain a significant challenge, prompting firms to explore automation and digital solutions to bridge the skills gap. Saudi Arabia's Vision 2030 emphasizes human capital development as key to future growth, with companies increasingly investing in skilled labor and training programs to develop a more efficient workforce. Major firms like Saudi Binladin Group and Al Bawani are investing in local talent through structured training programs and strategic hiring, aligned with Saudization goals. These companies are partnering with local universities and institutions to offer job placements tailored to engineering and project management roles. Trump-Saudi $600 bln investment shows investor confidence The Kingdom received additional momentum this week with the signing of a $600 billion investment deal during US President Donald Trump's visit to the Kingdom, further cementing Saudi Arabia's position as a global economic powerhouse, said Fahd. 'The recent investment agreement is a clear indication that Saudi is no longer a rising player, it's now shaping global flows of capital and technology -- making a major milestone in the Kingdom's economic globalization.' 'In terms of what it means for Saudi's construction sector -- we can expect further investment into growth sectors such as AI and infrastructure - aligning with Vision 2030.' The practical implications for the construction industry are substantial, according to Fahd: 'The investment is expected to accelerate the rollout of digital infrastructure across priority sectors, including construction--amplifying the use of AI-powered Building Information Modeling (BIM) and data-led oversight tools to enable optimized resource allocation and predictive maintenance.' Modular construction, innovation The report identifies modular and prefabricated construction methods as increasingly important to Saudi Arabia's construction future. NEOM is leading in this area by adopting techniques that enhance both efficiency and sustainability. By utilizing pre-assembled building modules, volumetric construction, and panelized systems, NEOM is reducing construction timelines and minimizing material waste while aligning with the region's sustainability goals. Partnerships with advanced manufacturing facilities allow major projects to produce precise, pre-assembled structural components such as wall panels and frameworks, streamlining construction processes and minimizing environmental impact. The report concludes with strategic recommendations for industry leaders in Saudi Arabia's construction industry, including the importance of harnessing AI and automation to reduce project overruns and improve compliance, making sustainability a competitive advantage by integrating green practices into every phase of construction, and developing a workforce for the future through investment in training programs that support local job creation. 'With billions more already committed to infrastructure development, our research confirms what we're seeing on the ground across these projects: Saudi is fast becoming the regional benchmark,' said Fahd.
Zawya
13-03-2025
- Business
- Zawya
Asheil to set up hitech lighting manufacturing facility in Saudi Arabia
Saudi-based Asheil Versatile Lighting Technologies (Asheil) has announced that it has secured prime land in Shaqraa Industrial City, located 180km northwest of capital Riyadh, for the establishment of its lighting manufacturing and technology hub. The 6,800 sq m facility will not only produce high-performance lighting solutions for Saudi Arabia's giga-projects, large-scale urban developments, and commercial infrastructure but also generate significant local employment opportunities. By investing in localised manufacturing, Asheil said it is ensuring that Saudi talent plays a direct role in the kingdom's industrial transformation, equipping the workforce with expertise in advanced manufacturing and energy-efficient lighting technologies. The facility will integrate cutting-edge production techniques, energy-efficient LED technologies, and precision engineering, addressing both market demand and the need for a skilled, future-ready workforce. By providing high-value job opportunities, Asheil will support the kingdom's long-term economic diversification strategy while advancing technological self-sufficiency in the lighting sector, it stated. This milestone strengthens Saudi Arabia's position as a regional leader in advanced lighting production, reducing the kingdom's dependence on imports while driving industrial growth, supply chain resilience and job creation, said a top official. "Asheil is proud to contribute to Saudi Arabia's transformation into a hub for advanced lighting technology," remarked Marco Fahd, the Chairman & CEO of Versatile International. "This facility will not only provide international standard, high-quality, locally manufactured lighting solutions but will also create skilled jobs and provide new career pathways for Saudi professionals in manufacturing, engineering, and supply chain management," stated Fahd. "We sincerely thank the Saudi government and our partners for their support in making this vision a reality," he added. Saudi Arabia's LED lighting market was valued at $2.3 billion in 2024 and is projected to reach $4.8 billion by 2030, growing at a CAGR of 12.9%. The kingdom currently imports significant volumes of lighting and signalling equipment, with China accounting for over 40 percent of its lighting imports, it stated. By manufacturing locally, Asheil will help reduce reliance on foreign suppliers, enhance supply chain stability, and ensure customized, region-specific solutions for developers and infrastructure planners. "With Versatile's extensive project management experience and Haneco's deep expertise in LED manufacturing, Asheil is set to become a transformative player in Saudi Arabia's industrial landscape," said Nicho Teng, the Founder & Managing Director of Haneco Lighting and Co-founder of Asheil. "Our integrated approach - spanning design, manufacturing, and after-sales support - will not only deliver high-performance lighting solutions but will also empower local talent with the skills and expertise needed to sustain and expand Saudi Arabia's manufacturing sector," he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
12-03-2025
- Business
- Trade Arabia
Asheil to set up hitech lighting manufacturing facility in Saudi Arabia
Saudi-based Asheil Versatile Lighting Technologies (Asheil) has announced that it has secured prime land in Shaqraa Industrial City, located 180km northwest of capital Riyadh, for the establishment of its lighting manufacturing and technology hub. The 6,800 sq m facility will not only produce high-performance lighting solutions for Saudi Arabia's giga-projects, large-scale urban developments, and commercial infrastructure but also generate significant local employment opportunities. By investing in localised manufacturing, Asheil said it is ensuring that Saudi talent plays a direct role in the kingdom's industrial transformation, equipping the workforce with expertise in advanced manufacturing and energy-efficient lighting technologies. The facility will integrate cutting-edge production techniques, energy-efficient LED technologies, and precision engineering, addressing both market demand and the need for a skilled, future-ready workforce. By providing high-value job opportunities, Asheil will support the kingdom's long-term economic diversification strategy while advancing technological self-sufficiency in the lighting sector, it stated. This milestone strengthens Saudi Arabia's position as a regional leader in advanced lighting production, reducing the kingdom's dependence on imports while driving industrial growth, supply chain resilience and job creation, said a top official. "Asheil is proud to contribute to Saudi Arabia's transformation into a hub for advanced lighting technology," remarked Marco Fahd, the Chairman & CEO of Versatile International. "This facility will not only provide international standard, high-quality, locally manufactured lighting solutions but will also create skilled jobs and provide new career pathways for Saudi professionals in manufacturing, engineering, and supply chain management," stated Fahd. "We sincerely thank the Saudi government and our partners for their support in making this vision a reality," he added. Saudi Arabia's LED lighting market was valued at $2.3 billion in 2024 and is projected to reach $4.8 billion by 2030, growing at a CAGR of 12.9%. The kingdom currently imports significant volumes of lighting and signalling equipment, with China accounting for over 40 percent of its lighting imports, it stated. By manufacturing locally, Asheil will help reduce reliance on foreign suppliers, enhance supply chain stability, and ensure customized, region-specific solutions for developers and infrastructure planners. "With Versatile's extensive project management experience and Haneco's deep expertise in LED manufacturing, Asheil is set to become a transformative player in Saudi Arabia's industrial landscape," said Nicho Teng, the Founder & Managing Director of Haneco Lighting and Co-founder of Asheil. "Our integrated approach - spanning design, manufacturing, and after-sales support - will not only deliver high-performance lighting solutions but will also empower local talent with the skills and expertise needed to sustain and expand Saudi Arabia's manufacturing sector," he added.
