SIBS, Sweden 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. This is the second order for SIBS to NEOM in less than 4 months. The order solidifies SIBS position in Saudi Arabia specifically but also globally as one of the world’s leading industrial producers of apartment buildings. The first order of 2 174 apartments is already in production. An entire region being built from the ground up to include cognitive cities and destinations operating on 100% renewable energy, NEOM is one of the world’s largest urban developments.
SIBS has just signed a Design and Build Contract. It includes the design, production, logistics, assembly, and finalization of 1 300 apartments spread across 22 buildings, totaling approximately 100 000m2 GFA. The sale is attributed to SIBS business segment Industrial Sales, and delivery is in the form of Project Sales, where we will deliver turn-key buildings from a finalized bottom slab upwards. The entire project will be commissioned and delivered by Q4 2024.
The buildings consist of one- and two-bedroom high-standard apartments equipped with designed kitchens, exclusive bathrooms, and balconies to each apartment. Solar panels on the roofs and low-energy building materials, together with our modular building system which ensure 90% completion ahead of delivery to the construction site, make the buildings highly energy efficient. The buildings are adapted in detail to comply with NEOM’s stringent regulations and are designed for future relocation if needed elsewhere as the development of NEOM progresses throughout other parts of the region.
“We are very proud to once again have been awarded a contract of this magnitude and to have received all 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,” says Erik Thomaeus, CEO of SIBS.
