NEOM, Kingdom of Saudi Arabia – December 12, 2024: NEOM, the sustainable region taking shape in northwest Saudi Arabia, has signed a landmark investment agreement with GMT Robotics, one of Europe’s emerging innovators in advanced construction technologies.
Led by NEOM’s strategic investment arm, NEOM Investment Fund (NIF), the investment will accelerate the delivery of the region’s extensive program of capital projects through construction robotics, while supporting NEOM as a innovator in modern construction techniques, including automation.
Majid Mufti, CEO of NEOM Investment Fund, commented: “Our investment in GMT Robotics reflects NEOM’s commitment to promoting transformative technologies that will unlock next-generation industries. By localizing this cutting-edge technology, we are laying the foundation for sustainable development, high-skilled jobs and the growth of commercially viable sectors. It is through partnerships like these that NIF will turn its visionary goals into reality and establish NEOM as a global hub of innovation.
NEOM’s Design and Construction sector, responsible for integrating the latest developments in Construction 4.0 within NEOM, led the partnership and implementation of the technology in key projects.
Bandar Ashrour, sector manager, design and construction at NEOMsaid: “Enabling construction technology start-ups to align with NEOM’s ambitions is fundamental to our work. GMT’s agility and expertise in leveraging robotics for construction brings unparalleled efficiency, consistency and sustainability. We look forward to a dynamic collaboration that will pave the way for a next generation of safer and more sustainable NEOM-built assets.
Headquartered in Copenhagen, GMT Robotics offers robotic technology specifically tailored to the rebar market. The company’s innovative robotic reinforcing cage assembly and handling systems deliver significant advancements in workplace efficiency and safety for the construction industry. In addition to improving safety, GMT Robotics systems reduce on-site labor requirements by an average of 90% through off-site prefabrication, significantly increasing productivity.
GMT Robotics will be instrumental in localizing the technology, with rebar cages produced at NEOM-based factories. The collaboration will also open a new frontier for Saudi engineers to further leverage robotics in other construction applications.
Ulrich Deichmann, CEO of GMT: “Having worked in the rebar industry in various forms over the past 30 years, it is very exciting to arrive at a point where large-scale adoption of robotics and automation to improve the rebar process is in progress. We share NEOM’s ambition to rethink the way construction is done and we look forward to a very successful partnership that will help revolutionize the construction industry.
With the global construction robotics market valued at $168.2 million in 2022 and expected to reach $774.6 million by 2032, representing a market growth of over 360% in 10 years* , the benefits of applying robotics in the construction sector are numerous. They include improving task efficiency, reducing operating costs, improving health and safety, and optimizing design flexibility.
The partnership adds to a series of NIF investments and embodies the Fund’s role in supporting NEOM’s sector strategy by enabling new technologies, creating new businesses and creating more employment opportunities for serve the growing economy of NEOM.