The General Authority for Small and Medium Enterprises, known as ‘Monsha’at’, recently unveiled the winning startups in the ‘Future Building Methods Challenge’. This competition, a collaborative effort with the Modern Building Initiative under the Ministry of Municipal and Rural Affairs and Housing, sought to bring forth innovative solutions and cutting-edge technological products designed to overcome challenges faced by beneficiaries in the Kingdom during the construction process, using modern and futuristic building methods, covering design, planning, construction, and finishing phases.
This challenge constitutes part of a series aiming to enhance the quality of life and the environment, marking the third installment in a string of challenges under the Real Estate Innovation Program. The initiative is dedicated to exploring the untapped potential within this crucial sector.
The victors of the ‘Future Building Methods Challenge’ were chosen after successfully navigating through several elimination rounds and participating in an intensive training camp to prepare for the final stage. The final judging panel evaluated 31 projects out of more than 100 submissions to determine the top three winners. ‘Soqecom’ clinched the first place with a prize of 50,000 Saudi Riyals, followed by ‘AMUNIQUE’ in second place with a 30,000 Saudi Riyal reward, and ‘ABN’ secured the third spot with a 20,000 Saudi Riyal prize.
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The competition was divided into two tracks: the first focused on ‘Design and Planning’, specializing in engineering, architectural, and interior design and planning using advanced solutions and technologies. The second track was ‘Construction and Finishing’, dedicated to the implementation and finishing of buildings with advanced solutions and technologies. The challenge provided the winners with the opportunity to work alongside prominent trainers and mentors from the real estate sector, present their projects to a jury of specialists and investors, and qualify for participation in the Real Estate Innovation Accelerator—a suite of programs offered by Monsha’at to innovators and entrepreneurs aimed at developing the sector and achieving the objectives of Saudi Vision 2030.
