Saudi Arabia is likely to remain the dominant construction market in the GCC for the foreseeable future with an estimated $200 billion spend in development projects planned over the next two years, said a senior official.

"This development is expected to spur continued growth among stakeholders in the kingdom’s construction market, especially for local businesses," stated Ibrahim Al Moaiqel, the director general for Human Resources Development Fund (HRDF), which was established to intensify Saudisation within the private sector under the Nitaqat programme, touted to be one of the world’s largest quota-based labour policies.

"Equally important, as the sector develops, more employment opportunities should open up for Saudi nationals and further contribute to the country’s continued push for economic growth," he added.

To support its Saudisation efforts, the HRDF has joined forces with leading regional business intelligence firm Meed to organise the first-ever Saudi Talent in Construction Conference on Sunday (December 6) at the Intercontinental Hotel in Riyadh.

The event will see industry experts discuss the kingdom’s various talent development programmes and policies, particularly within the construction sector.

Al Moaiqel will deliver the conference’s keynote address on “Obligations of the private sector to provide strategic partnerships and training opportunities for students and nationals in the construction sector.”

The opening address will be delivered by Ahmed Al Humaidan, Vice Minister of Labour, Ministry of Labour, who will share the latest update on the kingdom’s labour policy and visa regulations to support the construction industry.

This will be followed by a presentation by Dr Abdulkader Alfantoukh, Deputy Minister of Education for Planning & Information, Ministry of Education, who will focus on aligning university programmes with the requirements of the Saudi labour market to develop future Saudi leaders.

“A recent industry report says overall employment across the GCC is still on the rise, despite the fall in oil prices and its subsequent effect on regional economies. Saudi, however, is pushing through with its investment plans in the construction sector, so that should mitigate any slowdown felt in other sectors,” said Colin Foreman, the editor of Meed.

“Interestingly, the same report says the construction sector is forecast to have the highest average salary increase at 10 per cent, which will hopefully encourage more Saudi nationals to take on jobs in construction projects that are expected to get underway in the Kingdom,” he added.

Set to host over 200 delegates from across the region, the conference, with its impressive lineup of keynotes, panel sessions, presentations and networking opportunities will provide an ideal platform for various stakeholders to learn more about employment opportunities and challenges in Saudi’s construction industry.

The event is being supported by top advisory firm EY and The Talent Enterprise as knowledge partners, while Bayt.com is the strategic career partner and AYTB the bronze sponsor. -TradeArabia News Service