Redcon International, Saudi ConTech Launch ConTech Fund to Accelerate Construction Innovation in Saudi Arabia

Redcon International and Saudi ConTech signed a strategic cooperation agreement to launch the ConTech Fund in Saudi Arabia, marking a new step toward supporting innovation and accelerating the adoption of construction technologies in the Kingdom.

The agreement was signed by Eng. Tarek El Gamal, Chairman of Redcon Group and Redcon International, and Fehaid Alruqi, CEO and Co-founder of Saudi ConTech, in the presence of Eng. Mohamed Alhadidi, CEO of REDCON International, and representatives from both companies.

The signing ceremony took place during the FII PRIORITY Europe 2026 conference, held in Rome, Italy, in June 2026.

The agreement brings together Redcon’s expertise in construction and engineering with Saudi ConTech’s technological capabilities, creating an integrated platform aimed at advancing the adoption of innovative construction technologies in Saudi Arabia and fostering new opportunities for innovation, digital transformation, and future-focused investment.

The ConTech Fund, which specializes in construction technology, is expected to strengthen collaboration between industry leaders and startups while supporting the development of a more productive, sustainable, and innovation-driven construction ecosystem.

Commenting on the agreement, Eng. Tarek El Gamal, Chairman of Redcon Group and Redcon International, stated that the establishment of the ConTech Fund marks a significant step toward supporting the modernization of Saudi Arabia’s construction sector and enhancing its ability to meet the requirements of the Kingdom’s large-scale development projects.

El Gamal noted that Redcon Group has consistently adopted advanced construction technologies and sustainable building practices across its projects, reinforcing its position as one of the leading construction and engineering groups in the Arab region.

For his part, Fehaid Alruqi, CEO and Co-founder of Saudi ConTech, welcomed the partnership with Redcon, stated that the collaboration combines Redcon’s extensive expertise in construction with Saudi ConTech’s focus on technology-driven solutions.

He said that the partnership is expected to contribute to the advancement of the Kingdom’s construction industry by accelerating the adoption of innovative technologies and supporting the sector’s ongoing digital transformation.

Redcon International serves as the Saudi Arabian arm of Redcon Construction Group and was established to contribute to the Kingdom’s urban development projects in line with Saudi Vision 2030