News

ConFex Saudi Arabia To Take Place On October 23rd & 24th

The expo showcases how digitalization and cutting-edge tech are shaping the construction and real estate industries in Saudi Arabia and beyond.

Published

10 months ago

September 25, 2023

Nour Nasir

confex saudi arabia to take place on october 23rd and 24th

The Construction Technology ConFex KSA (CTF KSA) is a two-day immersive event exploring the technology revolutionizing Saudi Arabia’s Built Environment and Giga Project. Co-organized by the Saudi Contractors Authority (SCA), ConFex takes place at the Crowne Plaza, RDC Hotel in Riyadh on October 23rd and 24th.

Confex will showcase how digitalization and advanced tech are shaping construction and real estate in Saudi Arabia. Event organizers expect over 600 attendees, who will join 60 expert speakers and thought leaders in architecture, design, engineering, and construction, plus influential policymakers and investors.

Event themes include advanced technologies driving the built environment, Smart & Future Cities, Digital & Innovative Deliveries, Data Intelligence, and Sustainability. Speaking topics and workshops will cover a wide range of subjects, including:

Virtual construction
Decarbonization of the built environment
The internet of things (IoT)
Machine learning
Predictive data analytics
Digital twins
Building information modeling (BIM)
Building management system software

Confex is an important event for the construction and smart city technology sector. With the industry projected to research a value of nearly $15 billion by 2027, Saudi Arabia is rapidly becoming home to some of the world’s most advanced and futuristic building concepts.

Also Read: Bahrain Plans To Develop 300 Smart Factories By 2026

The Saudi Arabia Giga Project program — a cornerstone of the Vision 2030 program — is the world’s most extensive civil infrastructure initiative. Meanwhile, developments like NEOM, with its massive $500 billion budget, represent the largest construction projects globally. Furthermore, Red Sea tourism projects, valued at $8.5 billion, place a large emphasis on digital and smart delivery, while the $2.4 billion Roshn housing project aims to cut emissions by an estimated 18%.

To learn more about Saudi Arabia’s biggest Construction Technology Confex, head to the official website.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

2 days ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.