Oman-based ITHCA Group has announced its investment in InnoTech company with the goal of expanding the use of 3D printing technology in real estate development.
This investment will enable the exploration of innovative solutions and the integration of knowledge and technology to enhance the real estate sector.
InnoTech is a specialized company that focuses on innovation, 3D printing services, and educational technologies. It has achieved a significant milestone as the first company in the Middle East to construct a building using a locally developed 3D printer and building materials sourced from the local market.
Mr. Saif bin Abdullah Al-Abri, the Senior Director of Investments and Business Development at ITHCA Group, emphasized the group’s intention to invest in InnoTech, which specializes in 3D printing technology. The aim is to revolutionize the industry by deviating from conventional methods.
Mr. Al Abri added that, “This technology presents various advantages, including the localization of specialized technicians in real estate development, support workers in the sector, and keeping pace with global technological advancements. By leveraging the technologies of the fourth industrial revolution, ITHCA Group aims to contribute to economic growth and expedite project completion.”
Eng. Othman bin Maktoum Al-Mandhari, Founder and CEO of InnoTech, expressed satisfaction with the partnership and investment from ITHCA Group. They look forward to expanding the utilization of 3D technology in real estate development. Considering that cement is one of the most extensively used materials in construction globally, the field of real estate development faces significant challenges, such as high labor costs and expensive traditional building materials.
“Consequently, there is now a global race to automate this sector. InnoTech has taken on the responsibility of becoming the pioneering company in the Middle East by developing this technology, aiming to become one of the leading companies in the field,” Mr. Al-Mandhari further added.