SIBS receives an order for the delivery of 2 174 apartments to NEOM, Saudi Arabia

SIBS, one of the world's leading modular home manufacturers, has been awarded a contract to deliver 2 174 apartments to NEOM, located in northwest Saudi Arabia. NEOM is one of the world's largest urbanization projects and will be a center of world-leading innovation with a new model for how we live and develop sustainably.

SIBS has signed an Engineered Equipment Supply Contract, which includes 2 174 homes distributed among 35 buildings, intended for those working on the planning, engineering and construction of NEOM. The location of the project is in the primary staff accommodation and office cluster in NEOM. The sale is attributed to SIBS business segment Industrial Sales, and delivery is in the form of Project Sales, where we will deliver turn-key buildings from a finalized bottom slab upwards. The entire project will be delivered and commissioned by Q3 2024.   

The high quality, design, and layout of the apartments provide a high standard of living. The buildings consist of one- and two-bedroom apartments equipped with designed kitchens, exclusive bathrooms and balconies to each apartment. Solar panels on the roofs, together with our efficient building system make the buildings achieve a very high level of energy efficiency. The buildings are adapted in detail to comply with NEOM's regulations and are designed for future relocation if needed elsewhere as the NEOM project progresses throughout other regions.

"We are very proud to have been awarded this contract and also excited to be a part of the development of NEOM. Our substantial capacity and ability to adapt systems and production to different regulations, climates, and needs have all been decisive in the process. 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," says Erik Thomaeus, CEO of SIBS.

About Neom
NEOM is an accelerator of human progress and a vision of what a New Future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this New Future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.

NEOM will include hyperconnected, cognitive cities, ports and enterprise zones, research centers, sports and entertainment venues and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate and commercialize new technologies and enterprises in groundbreaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity.

Read more at neom.com.

For more information, please contact:
Erik Thomaeus
CEO, SIBS AB
et@sibs.se
+46 70-755 78 98

David Österström
COO, SIBS AB
do@sibs.se
+46 70 573 55 10

This information is the kind of inside information that SIBS AB (publ) is obliged to make public in accordance with the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication, through the contact people above, at 10am CET on 24 May 2023.

SIBS AB was founded in 2016 and is today one of the world's leading modular home manufacturers. With a scalable capacity of up to around 6,000 homes per year, we deliver sustainable, high-quality homes adapted to local conditions. SIBS has the entire integrated value chain for industrial construction within the group - from design and configuration in its own building system, industrial production in its own factories and onsite assembly/finalization. With the help of digitalization and technology, we set a new standard in the construction industry. SIBS bond is listed on Nasdaq Stockholm. Read more at www.sibs.se.