NEOM, December 14, 2024 – NEOM, the ambitious and sustainable city being developed in northwest Saudi Arabia, has entered into a groundbreaking investment agreement with GMT Robotics, one of Europe’s leading innovators in advanced construction technology. The agreement, spearheaded by NEOM Investment Fund (NIF), the region’s strategic investment arm, is set to revolutionize the construction industry within NEOM by incorporating cutting-edge robotics into the region's vast capital project program. This partnership underscores NEOM’s commitment to pushing the boundaries of modern construction techniques and automation, reinforcing its position as a global leader in sustainable development.
The collaboration aims to accelerate the delivery of NEOM's infrastructure and urban projects by leveraging GMT Robotics’ specialized robotic technology. This technology, which is primarily focused on the rebar market, promises significant advancements in efficiency, safety, and sustainability within the construction sector. GMT Robotics’ robotic systems for rebar cage assembly and handling will allow for a dramatic reduction in onsite workforce requirements—by as much as 90%—through offsite prefabrication. This will enhance productivity, improve safety conditions, and reduce costs, while also meeting NEOM’s high standards for sustainable urban development.
Majid Mufti, CEO of the NEOM Investment Fund, emphasized that the partnership with GMT Robotics is aligned with NEOM’s vision to drive transformative technologies that will unlock next-generation industries. “By localizing this advanced technology, we are laying the foundation for sustainable development, creating high-skilled jobs, and fostering the growth of commercially viable sectors,” said Mufti. He highlighted that strategic investments like these are essential to turning NEOM’s visionary goals into tangible, real-world solutions, further solidifying NEOM’s position as a global innovation hub.
Bandar Ashrour, Sector Head of Design and Construction at NEOM, echoed this sentiment, noting the importance of partnering with technology start-ups that align with the city’s ambitious goals. “GMT Robotics’ agility and expertise in construction robotics will bring unprecedented levels of efficiency, consistency, and sustainability to the region,” said Ashrour. “This dynamic collaboration will pave the way for the next generation of NEOM-built assets, ensuring a safer and more sustainable future for the region.”
GMT Robotics, based in Copenhagen, has revolutionized the rebar market with its advanced robotic systems for assembly and handling, which improve productivity while maintaining rigorous safety standards. The partnership will localize this technology by producing rebar cages in NEOM’s factories, a move that will also provide significant opportunities for Saudi engineers to develop their expertise in robotics and expand its use in other construction applications. This marks a critical step in integrating NEOM's technological and economic vision with the global trend of increasing automation in the construction industry.
The global construction robotics market, which was valued at $168.2 million in 2022, is forecast to grow at a remarkable rate, reaching $774.6 million by 2032—a growth of more than 360% in just a decade. The widespread adoption of construction robotics offers substantial benefits, including increased task efficiency, reduced operational costs, enhanced worker safety, and greater design flexibility. By investing in this rapidly evolving field, NEOM is positioning itself at the forefront of a technological revolution in construction, setting the stage for the creation of smarter, safer, and more sustainable cities of the future.
This partnership is a significant milestone in NEOM Investment Fund's broader strategy to support the development of innovative industries within NEOM and contribute to the growth of the Kingdom’s economy. By fostering technological advancements, enabling the creation of new businesses, and generating job opportunities, this collaboration will have a profound impact on NEOM’s economy, shaping its future as a global leader in sustainable development.