SIBS Secures Multi-Billion Ringgit Project To NEOM, Saudi Arabia

SIBS successfully secured a multi-billion ringgit contract to deliver 2,174 apartments to Neom, a large urbanization project for The Line in Saudi Arabia. The Line is a cognitive city stretching across 170 kilometers from the epic mountains of NEOM across inspirational desert valleys to the beautiful Red Sea. 

SIBS will deliver the project in the form of turn-key buildings and the entire project is expected to be delivered and commissioned by Q3 in 2024. 

The project, known as NEOM will be a ground-breaking development in the heart of NEOM city intended for those working on the planning, engineering, and construction of the project. In part of this, SIBS will be delivering 2,174 apartments across 35 buildings to meet the demands for luxurious living spaces while tailoring an array of amenities to meet the needs of modern urban dwellers.

Erik Thomaeus, CEO of SIBS Group said they were 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 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,” he said. 

In house showroom at construction technology company in Penang, Malaysia

SIBS Malaysia CEO SP Ong said securing the project will enable the 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.

“We are also proud to be a company that prioritizes on using local suppliers and local professional talents. To further increase efficiency, we have also strategically placed our main suppliers within close proximities of our plant to avoid disruptions to our production.

“Doing so reduces our dependence on distant sources which are susceptible to disruptions and volatility. This mitigates risks and enhances our ability to respond quickly to demands and changing circumstances.

“When we prioritize our borders, we directly boost our domestic economy. The ripple effects of this decision are profound, touching every corner of our society. Aside from delivering the best products, we have a serious commitment to contribute to local economic growth, job creations, and community development as an organization,” he concluded.

 

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About Neom

NEOM is a region in northwest Saudi Arabia on the Red Sea that is being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this New Future.

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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