[Malaysia, 8 June 2023] – SIBS, one of the world’s leading in modular construction technology, is proud to announce that it has successfully secured a multi-billion-ringgit contract to deliver 2174 apartments to Neom, one of the largest urbanization projects located in northwest Saudi Arabia. The project will be delivered in the form of turn-key buildings from a finalized bottom slab upwards. The entire project will be delivered and commissioned by Q3 2024. This significant achievement marks a breakthrough for the company's continued growth and success in the industry.

The project, known as NEOM will be a ground-breaking development in the heart of NEOM city intended for those working on the planning, engineering, and construction of the project. With 2174 apartments distributed among 35 buildings, the development offers luxurious living spaces and an array of amenities tailored to meet the needs of modern urban dwellers.

The buildings consist of one- and two-bedroom apartments fully fitted with quality designed built-in furniture, exclusive bathrooms, and balconies for each apartment. Sustainability has always been at the very sole of our design philosophy and together with our efficient building systems, we are able to achieve a high level of energy efficiency. Our flexible yet robust building design makes relocation of these buildings to other regions of Neom a breeze as this mega project progresses.

"We are thrilled to have secured this monumental project. This development represents a major milestone for our company and reflects our commitment to creating exceptional living experiences for tenants. The fact that SIBS has been selected as a supplier to NEOM is a clear confirmation that we have the competence and delivery strength that few in the world can match. We look forward to contributing to the development of NEOM as an international hub for, among other things, innovation, business, and sustainable development. We are excited to contribute to the growth and development of NEOM while providing a vibrant and sustainable community." says Erik Thomaeus, CEO of SIBS Group.

When SIBS started in 2016, the team had only one mission in mind and that was to revolutionize how homes are built. Its substantial scalable capacity and ability to adapt to different requirements from all regions of the world is further validated with the securing of the NEOM project.

Last year, the finest modular construction company invested in its new plant in mainland Penang, Malaysia. It has ever since boosted its productivity four folds, making SIBS one of the largest producers of apartment modules in the world. The state-of-the-art factory which spans across a 550,000 sq ft footprint on a 28-acre site is also almost entirely operated through solar energy to reduce its carbon footprint. The new plant is designed to meet the world’s growing needs for a more intelligent, efficient, and effective construction method.

CEO of SIBS Malaysia, SP Ong, said "Securing this project enables our company to strengthen its position as an industry leader in modular construction. We have a product that is unique and in high demand and I am confident that with a team of professionals whom we have assembled we will continue to improve to strengthen our position in this industry as the leader in construction tech. Everything in our factory is custom designed and built, from its production system to the machines used for production – something that no other competitor has. Not forgetting that we are one of the first to be able to complete 90% of an apartment building off-site leaving only 10% on-site work.

We are also proud to be a company that prioritizes on using local suppliers and local professional talents. To further increase efficiency, we have also strategically placed our main suppliers within close proximities of our plant to avoid disruptions to our production. Doing so reduces our dependence on distant sources which are susceptible to disruptions and volatility. This mitigates risks and enhances our ability to respond quickly to demands and changing circumstances.

When we prioritize our borders, we directly boost our domestic economy. The ripple effects of this decision are profound, touching every corner of our society. Aside from delivering the best products, we have a serious commitment to contribute to local economic growth, job creations, and community development as an organization." He concluded.

The success of SIBS in securing this multi-billion-ringgit apartment building project can be attributed to its experienced team of professionals who bring the substance of expertise and a passion for innovation to every project they undertake. Their dedication and commitment to excellence have earned the reputation for reliability in delivering high-quality products and ultimately positioning the company as the preferred choice in the construction technology industry.

SIBS is grateful for the support and trust of its partners, investors, suppliers, and the local community. The company remains committed to delivering this ambitious project on time, within budget, and to the highest quality standards.

For more information about SIBS and its portfolio of projects, please visit www.sibs.com.my. Facebook link: https://www.facebook.com/SIBSMalaysia