Surge in green building projects aligns with Saudi Arabia’s rapid population growth and heightened environmental awareness Saudi green building market is projected to generate $16.4 billion in revenue this year RIYADH: Saudi Arabia has made significant strides in sustainable construction, registering 2,000 of the 5,000 green building projects across the Arab world, according to a top official. Speaking at the opening of the 14th annual Saudi Green Building Forum, held in Riyadh from Oct. 6-8, Minister of Municipalities and Housing Majed Al-Hogail highlighted the Kingdom’s numerous milestones in this sector, reported the Saudi Press Agency. The surge in green building projects aligns with Saudi Arabia’s rapid population growth and heightened environmental awareness, driving the shift toward energy-efficient structures and the increased use of green building materials. The Saudi green building market is projected to generate $16.4 billion in revenue this year and is expected to grow at a compounded annual rate of 12.3 percent, reaching $33.0 billion by 2030, according to market research firm Prescient & Strategic Intelligence. During his speech, Al-Hogail said that these developments reflect the Kingdom’s commitment to sustainable practices, fostering a qualitative transformation in urban development. He added that this initiative underscores Saudi Arabia’s dedication to enhancing the efficiency of natural resource utilization, reducing carbon emissions, and creating healthy and safe urban environments. Al-Hogail also underscored the importance of this year’s forum, stating it addresses critical issues for the future of environmental sustainability. He noted that green buildings are essential for achieving sustainable development goals, aligning with Saudi Vision 2030 objectives. During the same event, Aramco’s Deputy Chief Engineer, Waleed Al-Naim, announced that the oil giant had launched a $1.5 billion sustainability fund to address climate challenges. On the forum’s opening day, the SGBF and the Saudi Contractors Authority signed a memorandum of understanding to enhance collaboration. The MoU outlines the provision of training and development programs, accreditation certificates, and knowledge exchange through workshops, seminars, and research-sharing initiatives. This agreement underscores the authority’s dedication to promoting sustainable practices in the contracting sector and raising environmental awareness, which will strengthen capabilities and expertise within the industry. This year’s forum focused on the optimal operation of cities in alignment with green building standards while addressing the connection between the construction and infrastructure sectors and environmental, climate, and desertification issues. To achieve this, the emphasis will be on strengthening the role of the government sector and cultivating partnerships with the private sector to support the localization of sustainable development goals in alignment with Saudi Vision 2030. Since its inception in 2010, the Saudi Green Building Forum has established the Kingdom as a leader in sustainable development, recognized by the UN Economic and Social Council. As a vital platform for dialogue and collaboration, the forum continues to drive Saudi Arabia’s sustainability agenda and shape the future of green building and urban development in the region.