November 29, 2023 foasummit0

Commitment to excellence

Redcon Construction has been a driving force in Egypt’s modernisation for decades, leaving its mark with towering skyscrapers and innovative construction projects that redefine the country’s skyline. As a leader in the Engineering, Procurement, and Construction (EPC) industry, Redcon has always upheld a commitment to delivering excellence to its clientele. Much of the company’s success lies in its unrelenting drive to find new solutions that increase productivity, maximise workforce capacity, and ensure lasting success for its clients.

Navigating 2D Obstacles

Before the adoption of BIM, the construction industry relied heavily on 2D methodologies for reinforced concrete (RC) design and detailing, which presented its own set of challenges that hindered progress and efficiency. Redcon’s engineers experienced this first-hand in the ZED Towers Project, a mixed-use commercial and residential tower development consisting of two distinct phases, Phase 1 and Phase 2.

During Phase 1 of the project, the structural team faced significant challenges due to their reliance on 2D drawings. These challenges included difficulties in coordinating with other disciplines and adapting to frequent design changes. This reliance also extended to Reinforced Concrete shop drawing production. Translating complex structural shapes and details into 2D plans and sections proved challenges, often resulting in inaccuracies and additional work. Additionally, creating accurate Bar Bending Schedules (BBS) for each element in a 2D software environment was time-consuming and error-prone. Furthermore, automating rebar splices, a critical aspect of reinforced concrete design, was challenging within the constraints of 2D, further complicating the workflow. Such errors had a significant impact on both project timelines and material consumption.

Moreover, precision was often compromised in the 2D environment, leading to costly rework and delays as errors were only identified during construction. “Keeping up with changes in the 2D environment (drawings) was challenging. Each time changes occurred, we had to rebuild the drawing, even when the site had already received the revised drawings and initiated work. Drawing in 2D posed difficulties in obtaining accurate measurements, as we could only draw using variable lengths.” said Mohamed Shabaan, Redcon’s Technical Office Team Leader.

Drawing Extracts

Shop drawing 1 extracted from Revit

Shop drawing 2 extracted from Revit

Shop drawing 3 extracted from Revit

Paving the way for collaborative synergy and enhanced productivity

Redcon recognised the need for a solution and decided to use Autodesk Revit, leading to a revolutionary change in how they approached reinforced concrete design and detailing. With some custom features added by the R&D team, Revit 2020 allowed Redcon to create 3D models that provided a transparent, detailed, and interactive representation of their projects. This improved understanding and decision-making among project stakeholders and reduced waste. This was critical for Redcon as waste increased over the 5% standard rate. “ The primary reason for adopting BIM software was to minimise rebar wastage” Mohamed further explains. “We soon noticed that reducing waste led to increased team productivity.”

Coordination model: MEP, reinforced concrete openings, and 3D reinforcement

The Use Of Revit

The use of Revit has also improved measurement accuracy, allowing engineers to create comprehensive Bar Bending Schedules (BBS) and sophisticated rebar models for complex structural elements. Notably, the representation of reinforcement in 3D, which was initially challenging in 2D, has resulted in precise length calculations, providing engineers with more accurate quantity takeoff for reinforcement materials. This enhanced accuracy has significantly reduced rebar wastage, ultimately lowering overall costs.

Moreover, BIM has streamlined real-time coordination among architects, engineers, and construction teams by offering a centralised platform for efficient collaboration. With real-time updates and cloud-based accessibility using Autodesk BIM Collaborate Pro, all stakeholders work with the most current information. This flexibility has enabled Redcon to make design updates seamlessly, ensuring a smooth and efficient design process and assisting in meeting stringent project schedules.

Clash Free Rebar Modeling

Rendered Models

ZED Project Redcon Scope

ZED Structure Models Rendered

Rebar Modeling Clash Free Model

Efficiency In Numbers

In Phase 1 of the project, seven structural engineers completed 1,535 sheets of concrete and reinforced concrete shop drawings over 12 months. In Phase 2, where BIM was implemented, the project involved only five engineers, who generated 4,250 sheets within the same period. Farag el-Saadany, Senior Engineer, estimates that BIM reduced overall modeling and annotation time by 50% to 60%, significantly cutting shop drawing time and enabling early clash detection. This remarkable improvement reduced the required workforce by 29% and nearly tripled the productivity of structural engineers, while minimising human errors throughout the workflow, from modeling to extraction. According to Mohamed ElSarha, R&D Manager, the new features for reinforcement detailing and show drawing in Revit 2024 will allow 50% to 60% performance and efficiency boost.

Maximising efficiencies through digital adoption

Redcon’s commitment to integrating Revit into its projects, supported by top management, reflects their proactive approach to embracing technology. “Our Chairman always says this: Technology pays off. Implement it today, and it will reward you in the future.” said Mohamed El Sarha.

Providing insight into the company’s digital adoption strategy, Ahmed Ibrahim says, “BIM is deeply integrated into Redcon’s corporate culture, reaching beyond technical departments to ensure seamless information integration, enhanced security, and accessibility for all stakeholders.” This strategic adoption of BIM positions Redcon as a construction leader in the Middle East region, showcasing the transformative power of technology in the industry.

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Source: ME Construction News


November 29, 2023 foasummit0

During the 173rd General Assembly of Bureau International des Expositions (BIE) on November 28, Saudi Arabia was chosen as the host country of World Expo 2030. A two-thirds majority of member states voted for Saudi Arabia’s project to host World Expo 2030 in Riyadh under the theme ‘The Era of Change: Together for a Foresighted Tomorrow’. The expo will take place between October 1, 2030 and March 31, 2031.

Three countries were in the running to host World Expo 2030. In addition to Saudi Arabia, the other candidates were the Republic of Korea (Busan) with the theme ‘Transforming Our World, Navigating Toward a Better Future’ and Italy (Rome) with the theme ‘People and Territories: Regeneration, Inclusion and Innovation’.

“On behalf of the BIE, I offer my warm congratulations to Saudi Arabia on its election as host country of World Expo 2030. In the coming years, we look forward to working closely with Saudi Arabia to bring the world together in Riyadh,” said the Secretary General of the BIE, Dimitri S Kerkentzes.

Eligible and present Member States, represented by government-appointed delegates, elected the host country in a secret ballot using electronic voting, on the principle of one country, one vote. Securing 119 votes in the first round, Saudi Arabia was elected outright, as it received the two-thirds majority required. Republic of Korea received 29 votes and Italy 17.

Addressing the assembly, Saudi Minister of Foreign Affairs Prince Faisal bin Farhan bin Abdullah said the Kingdom will continue to devote its efforts to regional and global cooperation and development.

He commented, “We take pride in the efforts and achievements that the kingdom has made thus far.”

He also highlighted the significance of the year 2030, as it marks three critical milestones: Expo 2030, the Sustainable Development Goals (SDGs), and Saudi Vision 2030.

“The Kingdom is actively working to accelerate progress on these three fronts. As we strive to develop and transform our economy, we believe that the Kingdom’s progress, along with regional development and the well-being of the global economy, will advance steadily,” said the Foreign Minister.

He underlined the Kingdom’s unwavering commitment to cooperating with all nations in hosting the expo, which he described as “built by the world for the world.” He also shed light on a comprehensive facilities package worth US $348mn allocated by the Kingdom to a group of 100 eligible countries participating in the expo.

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Source: ME Construction News


November 29, 2023 foasummit0

As climate-related disasters intensify in frequency and severity, so does the economic impact on communities and businesses.

Despite a responsibility to mitigate the crisis with emissions reductions in their operations and supply chains, companies have not made much progress in comprehensively measuring and reducing their emissions over the past year, according to a new study by CO2 AI and Boston Consulting Group (BCG) being released ahead of COP28, which begins at the end of the month.

Titled Why Some Companies Are Ahead in the Race to Net Zero, the study builds on CO2 AI and BCG’s 2021 and 2022 investigations into the progress that businesses around the world have made on emissions measurement and reduction. CO2 AI and BCG surveyed 1,850 executives responsible for emissions measurement, reporting, and reduction in their organizations across 18 major industries and 23 countries. Each organization surveyed had at least 1,000 employees and annual revenues ranging from $100 million to over $10 billion.

“Reflecting the UAE’s leadership in climate action, the nation has launched the UAE Net Zero by 2050 strategic initiative, being among the first in the Middle East and North Africa to target net-zero emissions by 2050. This ambitious drive underscores the region’s commitment to comprehensive emissions measurement and reduction, aligning with global sustainability goals,” said Shelly Trench, Managing Director and Partner at BCG.,

Progress on Comprehensive Emissions Measurement Remains Slow

According to the survey, just 10% of companies now report comprehensively measuring all their emissions, revealing no improvement relative to the 2022 survey. More concerning, only 14% of companies report reducing emissions in line with their ambitions over the past five years, down 3 pp from 2022, citing difficult economic conditions and capital constraints as challenges to their reduction efforts.

However, companies that have made decarbonization progress are realizing both financial and non-financial benefits to their business, citing reputational value, lower operating costs, and regulatory compliance among the top benefits. When asked to quantify, 40% of respondents estimate an annual financial benefit of at least $100 million from meeting emissions reduction targets, a 3 pp increase compared with last year’s survey.

An Improvement in Scope 3 Emissions Measurement

The number of respondents indicating partial measurement and reporting of Scope 3 emissions has increased by 19 pp since 2021, from 34% to 53%. In tandem, more respondents said they have set Scope 3 reduction targets—up 12 pp since 2021, from 23% to 35%—with the most common areas of focus being waste management and purchased goods and services.

Some regions have demonstrated clear improvement in comprehensive measurement of emissions in the past two years. Asia Pacific respondents improved comprehensive reporting of Scope 1 (direct emissions from company-owned and controlled resources), 2 (indirect emissions from the generation of purchased energy that an organization consumes), and 3 (indirect emissions that occur in the value chain of a company, including both upstream and downstream missions) emissions by 7 pp since 2021. The number of South American and North American respondents improved comprehensively reporting their internal emissions, Scopes 1 and 2, by 9 pp and 5 pp, respectively.

Four Traits of Companies Reducing Emissions in Line with Ambitions

Companies that report reducing their emissions in line with their ambitions were found to display four notable traits more strongly:

  • Collaborating with suppliers and customers on emissions measurement and reduction: 75% of companies that reduced emissions in line with their ambition have joint reduction initiatives with most of their suppliers, and 54% have similar initiatives with most of their customers.
  • Calculating emissions at the product level: The survey found that 75% of companies attempt to calculate emissions for at least some of their products “from cradle to gate,” that is, from raw materials to distribution.
  • Harnessing the power of digital technology in the emissions-management process: Companies with automated digital solutions for measurement are 2.5 times more likely to measure their emissions comprehensively. In addition, 30% of companies plan to expand the deployment of AI-powered tools within the next three years to improve accuracy, efficiency, and decision-making in emissions management.
  • Viewing Regulations Positively: They are 2.0 times more likely to view emissions-reporting regulations as a key reduction enabler.

“In the GCC, the advancement and expansion of artificial intelligence and technology in addressing climate sustainability are drawing international attention and reinforcing the region’s commitment. The strategic investment in AI-driven solutions is revolutionizing resource management and carbon emission reduction, showcasing innovative approaches to environmental stewardship. This proactive adoption of cutting-edge technologies demonstrates the GCC’s dedication to leading in sustainable solutions, catering to its distinct environmental and economic contexts. The burgeoning interest from global stakeholders further underscores the region’s role as a pioneer in integrating technology with sustainability.” said Robert Xu, Managing Director and Partner at BCG. 

Download the publication here.

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Source: ME Construction News


November 29, 2023 foasummit0

Ras Al Khaimah’s leading publicly listed property developer has opened its first Dubai sales centre, located in Business Bay.

The center will bring to life the concept of ‘enhancing lives and places’ embodying the spirit of Ras Al Khaimah, showcasing RAK Properties portfolio of luxury beachfront projects, including residential, commercial and mixed-use real estate, allowing buyers to learn more about the company’s innovative approach to real estate development to customers in the GCC region and around the world.

RAK Properties says it is creating a highly experiential ‘urban island’ lifestyle destination in Mina Al Arab, the heart of Ras Al Khaimah (RAK), creating the conveniences of urban living with the free-spirited energy of island life.

Sameh Muhtadi, CEO of RAK Properties, commented: “Our aim is to create an immersive setting for investors to meet and explore our luxury developments. Dubai remains a cosmopolitan hub with more than 200 nationalities residing there, and we have an enormous pipeline of projects launching in 2023 and 2024. It is imperative for us to have a strategic presence in this city, where the demand is, and to be close to our clients to better serve them.

“Our team is dedicated to delivering a tailored customer journey that not only meets but exceeds international standards, ensuring our regional and global clients receive unparalleled support and care.”

The centre will also showcase the company’s commitment to excellence and attention to detail, evident in RAK Properties development, added the firm.

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Source: ME Construction News


November 29, 2023 foasummit0

Ahead of COP28, the ENEC ADVANCE program has been announced by the Emirates Nuclear Energy Corporation (ENEC). The program aims to take advantage of the latest advancements in nuclear energy technologies, and aims to strengthen the UAE’s position as a nation delivering climate action by accelerating the global clean energy transition to Net Zero.

According to a statement from ENEC, the programme will evaluate the latest technologies in the advanced, Small Modular Reactor (SMR) and microreactor categories, which can generate clean electrons and molecules, such as steam, hydrogen and ammonia, as well as process heat for industrial processes. In doing so, ENEC, the UAE’s only mandated nuclear energy developer, will then work with national stakeholders to determine deployment pathways, and with international partners for both technology and project collaboration opportunities.

Within the ‘Year of Sustainability’ in the UAE, the program will support the continued rapid decarbonisation of the country’s heavy and energy intensive industries, creating further sources of clean energy while using the latest technologies and helping to deliver Net Zero by 2050.

Heavy industry (steel, aluminum, oil, gas, cement and chemicals), and transport currently contribute to 50% of the UAE’s total carbon emissions. These sectors are challenging to decarbonise as they require vast amounts of energy continuously, and a significant portion of the emissions arises from activities conducted off-grid, the statement explained.

Advanced reactors and SMRs offer an innovative decarbonisation solution for these sectors. These reactors can be co-located with critical infrastructure and provide a reliable supply of clean electricity, as well as clean steam, heat and hydrogen. SMRs are easier to manufacture, thereby contributing greater economies of scale, in addition to being flexible, safe and efficient to deploy.

ENEC ADVANCE offers a clear example of the action-oriented approach the nation is taking to fast-track the clean energy transition, through leveraging the latest technologies in the nuclear energy sector. The program will expedite and centralise the UAE’s approach to deploying state-of-the-art nuclear technology and boosting value streams through the generation of clean electrons and molecules, strengthening opportunities for users to generate green premiums for their low-carbon end products, the statement added.

“Nuclear energy is vital for reaching Net Zero as part of a balanced portfolio of energy sources, and we are committed to evaluating and deploying the latest nuclear energy technologies to accelerate the decarbonisation of the UAE’s hard-to-abate industries that require ever-growing volumes of clean electricity, molecules, heat and steam. This announcement builds on the great momentum we have made with the Barakah Nuclear Energy Plant and the significant expertise we have gained. ENEC is working to harness innovative nuclear energy technologies like advanced reactors to facilitate the achievement of the UAE’s climate goals and transition to low-carbon energy systems,” said His Excellency Mohamed Al Hammadi, Managing Director and Chief Executive Officer of ENEC.

“The Barakah Plant is already the largest single source of clean electricity in the UAE and the Arab World. Now, as we evaluate the leaders in the emerging advanced reactor arena, we will utilise the ADVANCE program to select the best technologies for our needs here in the UAE, as well as for projects internationally, where we see opportunities for collaboration and co-investment. We look forward to working closely with our global partners to advance the peaceful use of nuclear energy and support the global goal of tripling global nuclear capacity by 2050,” added Al Hammadi.

With Unit 4 of the Barakah plant due to start up in 2024, ENEC said it is now focused on capitalising on the full value of the UAE’s investment in the nuclear energy sector, working closely with key technology companies and energy intensive industry leaders to identify the right technology and meet the growing demand for clean electricity and molecules.

ENEC’s technology selection and opportunity for co-investment in technologies, will ensure it remains at the forefront of advanced reactor development and create more attractive, high-value and long-term job opportunities for UAE Nationals. ADVANCE boosts the UAE’s R&D and innovation activities, enhancing national intellect that can cross-pollinate to related sectors, the firm stated.

The announcement comes as reports show that global electricity demand is set to double by 2050, combined with a new era of international support for nuclear energy as a proven solution for energy security and sustainability. Global nuclear energy capacity will need to triple to meet the growing demand for clean energy and meet Net Zero targets, and this capacity will come from large-scale reactors, advanced reactors and SMRs. At present, there are over 80 SMR designs alone at varying stages of progress, with owners anticipating commercial deployment in the early 2030s. The SMR market is already valued at over $6bn, which is expected to rise significantly once the first reactors come online.

As a key player, the UAE welcomes other nations visiting the country for COP28 to learn how the nation has rapidly decarbonised its power grid, through the deployment of nuclear energy, offering a model for others looking for a proven route to reducing carbon emissions while boosting energy security.

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Source: ME Construction News


November 29, 2023 foasummit0

A deal has been signed by Skanska, Syltern and Nye Veier for the construction of a section of the E6 highway between Berkåk and Vindåsliene in Trøndelag County, Norway. The deal is part of a design and build contract that includes work from Ramboll, with a total package value of $207mn.

According to a report, Skanska’s contract is valued at $122mn and mainly involves the design and construction of a 15km stretch of the E6 – a section with 2×2 lanes, featuring a new intersection and connection to the existing E6. The scope of work includes 15km of local roads, 800m of tunnel, six bridges, two wildlife crossings and various smaller constructions.

The project is being approached with sustainability in mind, and aims to cut greenhouse gas emissions by over 50%, compared with regulatory benchmarks. Skanska says the project is expected to receive environmental certification at the BREEAM Infrastructure Whole Team Award level of Very Good.

Detailed engineering activities will start immediately, with construction work expected to begin in the spring of 2024.

The road network is slated for completion by the autumn of 2027, the firm noted.

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Source: ME Construction News


November 28, 2023 foasummit0

Saudi-based developer Dar Al Arkan has launched Etoile by Elie Saab, the designer’s first branded residence in Saudi Arabia. The firm said that ‘the iconic flair and elegance of Elie Saab can be found in Etoile at Sedra, the first integrated community of its kind in Riyadh’.

Designed to be ‘a sanctuary of opulence and tranquillity’, the branded residence comprises luxury homes that are said to be steeped in tradition. The project comprises an assortment of three-and four-bedroom villas with the Wadi Villas offering uninterrupted views of the immersive wadis.

Dar Al Arkan pointed out that the grandeur of Etoile by Elie Saab is further exemplified by its iconic architecture. The monolithic structures with their window boxes done up in ancestral textures and hues, straddle a cosmopolitan lifestyle amidst a serene community. It is signature couture living at its best with warm wood finishes, cool flawless marble and a luxe cream palette offering an atmosphere of pure splendour, the developer said.

“Luxurious living in the heart of Riyadh will elevate the kingdom’s appeal for discerning residents and global investors keen on setting up base here. We are more than proud to join forces with Elie Saab, a long-standing partner to bring their first branded residence to the kingdom. Etoile by Elie Saab offers a truly luxurious experience for those seeking peace and sanctuary in the midst of a bustling environment. With this project, we hope to bring a unique mix of traditional architecture with haute couture finish that is synonymous with the signature style of Elie Saab while setting a new benchmark within the real estate sector in the country,” said Dar Al Arkan Chairman Yousef Al Shelash.

Housing Etoile by Elie Saab, Sedra by Roshn, combines modern and aspirational living with the unique heritage and history of Saudi Arabia with Salmani architecture at its heart, he added.

Group CEO Elie Saab Jr added, “We are excited to start a new journey in Saudi Arabia with Dar Al Arkan. Luxury, elegance, and craftsmanship are key to our brand’s timeless appeal, and we are delighted to bring these to Etoile by Elie Saab at Sedra. Designing bespoke living that reflects the heritage and culture of the Kingdom while providing aesthetically pleasing modern amenities is a challenge that we were more than happy to take on. Etoile reflects all that Elie Saab as a brand stands for today – it is elegant, classic yet sleek and modern and is designed to elevate one’s living experience,”

Located north of Riyadh, the community is said to be strategically situated close to the city’s prominent destinations with easy access to the main roads.

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Source: ME Construction News


November 28, 2023 foasummit0

PMKConsult has acquired UK-based W. Hiles Partnership (WHP). WHP is a specialist project and commercial management consultancy and are said to have delivered 49 restaurants in the UK, France & Germany this year, with over 170 Five Guys franchise restaurants in the UK, along with several other multinational brands.

Since its inception in 1937, WHP has grown into a leader in core sectors, notably hospitality, entertainment, and commercial industries, actively championing project and commercial management. The firm’s portfolio spans diverse arenas, from cinemas, bowling centers, leisure parks, specialist restaurants, visitors centres though to culture & heritage venues, a statement from PMKConsult noted.

WHP also has experience in nurturing international brands entering the UK market, including Wendy’s, Popeyes, Sticks n’ Sushi, Five Guys, Paris Baguette and the like, which often expands across Europe as the success of the partnership flourishes, it added.

“Both Keenan [COO] and I are incredibly excited about this acquisition for various reasons. Our business has been experiencing steady growth in the UK, and given our concentrated focus on the market, it not only makes sense to establish our presence with John Vint in the lead, but also to acquire a business that holds a leading position in sectors we aim to expand into, synergising with PMKConsult’s broad sector coverage and technical specialism. Our collective client base will gain significantly from our robust presence in the Middle East, and vice versa. From a service delivery perspective, our GCC Client base can greatly benefit from the sector expertise introduced by the WHP brand,” said Kevin Woolley, CEO of PMKConsult.

WHP’s delivery footprint is said to extend to France, Germany, and Spain, and the firm is eager to continue expanding across Europe and the Middle East under PMKConsult. WHP are also key players in facilitating the increasing drive-thru demand in the UK, delivering up to fifteen projects in the last two years for well-established brands. The firm’s expertise extends throughout F&B, showcasing successful collaborations with iconic high street names. Additionally, their consultancy prowess shines through projects like the historic Phoenix Picturehouse in Oxford, and the meticulously restored cinemas in Brighton & London, the statement continued.

Commenting on the acquisition, Malcolm Hiles, Managing Director, W. Hiles Partnership remarked, “WHP is ready for its next phase of growth and now as a PMKConsult company, we will continue to offer our recognised service delivery excellence and maintain our client base with our usual professionalism. We will now be able to offer support to our existing clients that are looking to expand into other markets. With a service delivery footprint throughout Europe, and now the Middle East, we have many new avenues to grow our relationship with our client base. I am also looking forward to PMKConsult benefiting greatly from our legacy and wealth of expertise in the UK market.”

PMKConsult recently appointed John Vint as the Managing Director for the UK market. Working closely with Malcolm at WHP, his core focus will be integrating service offerings and fostering business development, the firm said.

While WHP will retain its brandmark and senior team, it will benefit from back-office support, critical mass, and access to the broader international team for project execution across the UK, mainland Europe. PMKConsult plans to involve UK team members in bids requiring specialised expertise within sectors where WHP excels, such as F&B, cultural and heritage, commercial, leisure and entertainment, leveraging local market knowledge to advance fast-track projects in the rapidly growing regional economy in the GCC region, the statement explained.

“I am honoured and thrilled to lead PMKConsult’s UK office in this significant acquisition. The strengths that W. Hiles Partnership bring will align seamlessly with our portfolio expansion and our commitment to exceptional service execution in commercial consultancy and project management services. This strategic move not only enhances our presence in the UK market but also opens up new avenues for collaboration and growth. I am excited about the opportunities ahead and look forward to contributing to the continued success of our expanding brand,” concluded Vint.

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Source: ME Construction News


November 28, 2023 foasummit0

In a new white paper titled ‘The Green Revolution: A Call for Sustainability in Real Estate’, JLL says that while the UAE has been consistently launching green initiatives and projects (and setting bolder targets that are both pro-climate and pro-growth), stakeholders in the real estate industry must take decisive action to safeguard their assets and secure long-term returns.

The published analysis includes valuable insights and key takeaways exploring the critical role of the real estate industry in shaping a sustainable future, and the ramifications of inaction as opposed to proactively pursuing green strategies.

The whitepaper dives deep into the UAE’s efforts to strengthen its position as an advocate for climate action and examines recommendations for stakeholders.

The high energy consumption, carbon emissions, and resource depletion that are characteristic of the built environment, which accounts for nearly 40% of global energy-related carbon emissions and 36% of energy consumption, have made it imperative to integrate sustainability measures into real estate investment decisions to accelerate the Net Zero transition of the sector.

The whitepaper also outlined the importance of making financial investments in green buildings and green construction to offset reduced property values over time and minimise climate-related challenges, especially in the MENA region which is warming at twice the global average rate with temperatures projected to rise by 4°C by 2050.

James Allan, CEO, Middle East and Africa (MEA), JLL said, “The cost of inaction goes beyond accounting for profits and losses. The real estate industry’s failure to adopt and embrace sustainable practices will impact both society and the natural environment, while also deterring investors who equate climate risk with financial risk. Committing to ambitious net zero targets is critical to enhancing both efficiency and financial performance and decarbonising real estate.”

JLL research has revealed that buildings with higher levels of green certification can compete with new stock entering the market for longer periods of time.

In Dubai, such buildings command 5%-10% higher premiums as compared to green premiums of 11.6% in London, 9.9% across nine major markets in Asia, and 7.1% across eight major markets in the US and Canada.

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Source: ME Construction News


November 27, 2023 foasummit0

The Big Project Middle East (BPME) and Middle East Consultant (MEC) editorial teams have confirmed that the 2023 edition of the Construction Intel Summit KSA will feature senior speakers from 25 organisations. The keystone event is taking place at the Rosh Rayhaan by Rotana, Riyadh on 29 November, and will focus on a variety of topics pertinent to the built environment in the Kingdom, as it works to deliver on the agenda outlined by Saudi Vision 2030.

Registration is complementary but mandatory for built environment professionals across the Middle East.

Discussing the agenda, the editorial teams confirmed that several panel discussions, presentations and fireside chats have been scheduled for the day. Speakers have been confirmed from ALEC, ACCIONA Construction, AtkinsRealis, Al Masaood Bergum, Compass, Cundall, CIOB, JLL, MACE Arabia, SERCO, RICS, Trowers & Hamlins, Taylor Sterling, SHADE Corporation, Terra Nexus and others.

Speakers will discuss and debate a number of the Saudi construction market’s issues and opportunities, including: Saudisation and the transmission of knowledge within the built environment; the multi-disciplinary engineering and delivery of giga-projects; the impact of AI and other disruptive technologies on the future of the built environment, and the requirements and challenges associated with owning and operating giga-projects. Read about the full agenda by clicking here.

The 2023 Construction Intel Summit KSA is supported by:

Strategic Content Partner: ALEC Engineering & Contracting
Silver Sponsor: AECOM, AtkinsRealis, Desert Board, KEO, K Tech Consulting,
Bronze Sponsor: Thinkproject
Supporting Partners: Al Masood, Climatize, Compass Project Consulting, Cundall, JLL, Omnium, Polypipe, TBH Consultancy
Endorsed by: Chartered Institute of Building, American Concrete Institute

To learn more about the 2023 Construction Intel Summit KSA, please click here.

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Source: ME Construction News