Qimma Al Omran Industrial Factory extends its thanks and appreciation to the visitors to its special pavilion at the Restatex Real Estate Exhibition 2023. We are always proud of your presence with us. We know that you are one of the important reasons for success, We look forward to cooperating with you and informing you of our work and experiences
Where Dr. confirmed. Ali Al-Jouf said that the corporation will offer housing units at prices 25% lower than the market. Building with Light Gauge Steel is a solution that provides quality, speed, and lowest costs
Dr. Ali Fahd Al-Jawf said: Chairman of the Board of Directors of Hakim Al-Amar Foundation for Light Gauge Steel Construction Technology, The corporation will offer housing units at prices 25% lower than what is offered in the Saudi market. Pointing out that an agreement is underway with the Ministry of Housing to build about 100 housing units in the first phase.
Al-Jouf added at the Restatex Real Estate Exhibition in Riyadh, The increasing demand for housing requires finding a solution for rapid construction while ensuring the provision of high-quality real estate products. Emphasizing that building using the LGS model is a solution that provides quality and speed of completion in residential building construction at the lowest costs.
He showed the possibility of saving rates ranging from 18% to 25% in cost compared to traditional construction. The savings lie in the ratio of foundation loads, and the difference in quantities reaches 70% of the materials used, including iron and concrete. In addition to shortening the implementation time, which represents part of the costs, The construction structure is completed within two weeks and the residential unit is delivered after only about 6 months.
He explained that Hakim Al-Emaar Foundation owns a subsidiary factory specialized in manufacturing prefabricated LGS structures using thin steel sheets. Indicating that the factory produced more than 450 tons in the year 2022, It plans to establish a new factory in Tabuk with a production capacity of 5,000 tons annually, in partnership with a real estate developer, during the current year 2023.
He mentioned the Foundation’s implementation of a number of residential, office and commercial projects, the most important of which is the Holy Sites Center in Mecca, at a value of 19 million riyals. It is currently working on projects in Tabuk, Neom and Sharma. He added that the company achieved sales worth 18 million riyals and a net profit of 25% in the past year 2022.
Al-Jawf said, “We were offered purchase and acquisition deals, but we did not agree.” We have a strategic goal to launch the company on the main financial market after 3 years.”
