NEOM Fund inks deal to invest in automated robotic technology for construction projects

Logo of NEOM Investment Fund

NEOM signed a landmark investment agreement with GMT Robotics, one of Europe’s emerging innovators in advanced construction technology, the state-owned SPA reported.

Led by NEOM’s strategic investment arm, NEOM Investment Fund (NIF), the investment will accelerate the delivery of the region’s expansive capital project program through construction robotics, while underpinning NEOM as an innovator in modern construction techniques, including automation.

The partnership builds on investments by NIF and embodies the fund’s role in supporting NEOM’s sector strategy by enabling new technologies, establishing new businesses and creating more job opportunities to serve NEOM’s growing economy.

GMT Robotics will play an instrumental role in localizing the technology, with rebar cages produced in NEOM-based factories. The collaboration will also open a new frontier for Saudi engineers to further leverage robotics in other construction applications.

Majid Mufti, CEO of NEOM Investment Fund, commented: “Our investment in GMT Robotics reflects NEOM’s commitment to driving transformative technologies that will unlock next-generation industries. By localizing this advanced technology, we are laying the groundwork for sustainable development, high-skilled jobs and the growth of commercially viable sectors. It is through partnerships like these that NIF will turn visionary goals into reality and establish NEOM as a global hub for innovation.”

NEOM’s Design and Construction Sector, tasked with incorporating the latest developments in Construction 4.0 across NEOM, has been leading the partnership and the implementation of the technology across key projects, he added.