PETALING JAYA: SIBS Group, one of the world’s leaders in modular construction technology, has secured a multibillion ringgit contract to deliver 2,174 apartments to Neom, one of the largest urbanisation projects located in northwest Saudi Arabia.
The project will be delivered in the form of turnkey buildings from a finalised bottom slab upwards. The entire project will be delivered and commissioned by the third quarter of 2024.
This significant achievement marks a breakthrough for the company’s continued growth and success in the industry, SIBS said in a statement.
The project, known as Neom, will be a groundbreaking development in the heart of Neom City intended for those working on the planning, engineering, and construction of the project. With 2,174 apartments distributed among 35 buildings, the development offers luxurious living spaces and an array of amenities tailored to meet the needs of modern urban dwellers.
“We are thrilled to have secured this monumental project. This development represents a major milestone for our company and reflects our commitment to creating exceptional living experiences for tenants. The fact that SIBS has been selected as a supplier to NEOM is a clear confirmation that we have the competence and delivery strength that few in the world can match. We look forward to contributing to the development of Neom as an international hub for, among other things, innovation, business, and sustainable development. We are excited to contribute to the growth and development of Neom while providing a vibrant and sustainable community.” said SIBS Group CEO Erik Thomaeus.
Last year, the finest modular construction company invested in its new plant in mainland Penang. It has since boosted its productivity fourfold, making SIBS one of the largest producers of apartment modules in the world. The state-of-the-art factory which spans 550,000 sq ft on a 28-acre site is almost entirely operated through solar energy to reduce its carbon footprint. The new plant is designed to meet the world’s growing needs for a more intelligent, efficient, and effective construction method.
SIBS Malaysia CEO SP Ong, said: “Securing this project enables our company to strengthen its position as an industry leader in modular construction. We have a product that is unique and in high demand and I am confident that with a team of professionals whom we have assembled we will continue to improve to strengthen our position in this industry as the leader in construction tech. Everything in our factory is custom designed and built, from its production system to the machines used for production – something that no other competitor has. Not forgetting that we are one of the first to be able to complete 90% of an apartment building off-site leaving only 10% on-site work.”
He added that the company that prioritises on using local suppliers and local professional talents.
The success of SIBS in securing this multi-billion-ringgit apartment building project can be attributed to its experienced team of professionals who bring the substance of expertise and a passion for innovation to every project they undertake. Their dedication and commitment to excellence have earned the reputation for reliability in delivering high-quality products and ultimately positioning the company as the preferred choice in the construction technology industry.
