SIBS receives order for another 1,300 apartments to NEOM, Saudi Arabia

Living room interior design of a modular show unit

SIBS has been awarded a new contract to deliver an additional 1,300 apartments to a large-scale residential project in NEOM, a region in northwestern Saudi Arabia. SIBS is the sole supplier chosen for this project and this is the second order from NEOM in 4 months. This solidifies SIBS position in Saudi Arabia and globally as one of the world’s leading industrial producers of apartments. The first order of 2,174 apartments is already in production. 

The contract signed is a Design and Build Contract, which includes the design, production, logistics, assembly and finalization of 1,300 apartments spread across 22 buildings, totaling approximately 100,000 m2 GFA. The successful contract is attributed to SIBS’ business segment Industrial Sales where its delivery will be in the form of turn-key buildings. The entire project will be commissioned and delivered by Q4 in 2024.   

The buildings consist of one and two-bedroom high-standard apartments equipped with design kitchens, bathrooms, and balconies exclusive to each unit. Solar panels on the roofs and low-energy building materials, together with a modular building system ensures a 90% completion ahead of delivery to construction sites, making these buildings highly energy efficient. The buildings are adapted in detail to comply with NEOM’s stringent regulations and are designed for future relocation whenever needed as the development of NEOM progresses through other parts of the region.

SIBS CEO Erik Thomaeus said the Group is very proud to once again be awarded a contract of this magnitude and to receive orders of high-quality apartments of permanent standard that NEOM has awarded so far.

“We have already initiated the production of over 2,000 apartments in NEOM, and this new contract demonstrates our capacity to handle extensive and complex deliveries. It’s clear that our offering is appreciated in the market, and this is another confirmation that we possess the competence and delivery strengths that few others can match.

“We look forward to our continued delivery of high-quality houses to NEOM, a revolutionary urban development we truly believe in.

About Neom

NEOM is an accelerator of human progress and a vision of what a New Future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this New Future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.

NEOM will include hyperconnected, cognitive cities, ports and enterprise zones, research centers, sports and entertainment venues and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate and commercialize new technologies and enterprises in groundbreaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity.


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