The General Authority for Small and Medium Enterprises (Monsha’at) has announced the winners of the “Future Building Methods Challenge” in collaboration with the Modern Construction Initiative, one of the Ministry of Municipal and Rural Affairs and Housing initiatives. This challenge aims to provide innovative solutions and advanced techniques to address the challenges faced by beneficiaries during the construction process using modern future-oriented building methods in the stages of design, planning, construction, and finishing.
This initiative is part of efforts to improve the quality of life and environmental preservation. It marks the third round of challenges to explore limitless possibilities in the real estate sector.
The winning companies of the “Future Building Methods” challenge were selected after participating in the qualifiers and undergoing intensive training to qualify for the final stage. The final judging committee evaluated 31 projects out of more than 100 submissions to determine the top three winners.
“Souq Akom” secured first place and a prize worth 50,000 Saudi Riyals, while “AMUNIQUE” won second place and a prize worth 30,000 Saudi Riyals. The project “ABN” achieved third place and a prize worth 20,000 Saudi Riyals.
Participants in the challenge were divided into two tracks: the first track focused on “Design and Planning,” which involved advanced engineering, architectural, and interior design techniques. The second track is related to “Construction and Finishing,” encompassing advanced execution and finishing methods for buildings.
In addition to the financial awards, this initiative provides the winners with the opportunity to collaborate with experts in the real estate sector and showcase their projects to a judging committee composed of experts and investors in the field. It also allows them to participate in the real estate innovation accelerator as part of the programs offered by Monsha’at to enhance the development of the real estate sector and achieve the goals of Saudi Arabia’s Vision 2030.