Real Estate

Construction Giant ALEC Achieves 150% YoY Saudi Growth; Plans Further Investment and Expansion in 2024

Through cadet programs, the company aims to leverage local talent to build a world-class construction business in Saudi Arabia that will make the Kingdom’s giga-projects a reality

Riyadh, Saudi Arabia – January 09, 2024 – Following the establishment of its Saudi headquarters in Riyadh last year, ALEC Engineering and Contracting LLC (ALEC) today announced it has achieved 150% year-on-year growth in the Kingdom through 2023, highlighted by its successes in winning bids for four projects, and investing to significantly increase its Saudi workforce. Building on this momentum, the company has identified further investment and expansion in Saudi Arabia among its top business priorities for 2024 as it sees clear potential for the country to become a global hub for construction excellence and innovation.

This deep emphasis on Saudi Arabia by the ALEC Group — which has over 22,000 employees and over SAR 20 billion in projects on hand — is in line with a strategy the company has been executing on for the last four years. ALEC’s recently appointed CEO, Barry Lewis, said, “ALEC’s tremendous success in Saudi Arabia is driven not by volume, but rather by a few, iconic projects. We excel in delivering complex, one-of-a-kind developments which are exactly the type of projects that Saudi Arabia is undertaking more than any other country in the world.” Earlier this year, Saudi Arabia’s Qiddiya Investment Company (QIC) announced its selection of the joint venture between ALEC and El-Seif Engineering Contracting for the contract to construct part of the Qiddiya Speed Park.

“We are investing in the Kingdom to make the government’s vision a reality. Our strategy is to bring unparalleled expertise, technology, and industry best-practices to the country. In doing so, we are building a sustainable business that is rapidly becoming a driver of world-class excellence, and employment in the Kingdom’s construction industry,” Lewis added.

Particularly beneficial to the country’s construction sector is the robust set of construction-adjacent businesses that have entered the Kingdom as part of the broader ALEC Group. These include ALEC FITOUT, a luxury fit-out and refurbishment business that specialises in the delivery of high-quality craftsmanship and finishes; LINQ, a modular construction solutions provider that incorporates top practices and materials, to deliver flexible, eco-friendly prefabricated units that can be rapidly assembly in any location; and ALEMCO, a leading provider of mechanical, electrical and plumbing (MEP) engineering solutions.

“Each of our subsidiaries is an industry-leader in their focused area of business. This enables us to introduce powerful new construction paradigms to the Kingdom. Given the eagerness of Saudi developers to leverage the latest technologies, materials and construction techniques, the scope for mutual benefit is immense,” said Lewis. “In particular, we are set to pioneer modular construction techniques — be it for buildings, MEP works, or even data centres. This will enable developments in the country to be executed at pace, while conforming to the highest standards of quality, precision, and sustainability.”

With its ambitions of having projects in Saudi Arabia drive a significant portion of its total business, ALEC has earmarked several long-term investments in the country. Key among these is its intent to foster local talent which it sees as being essential to the sustainability of its business and the overall construction sector. The company has already implemented cadet programs for early-stage recruitment and training of Saudi professionals, and is in dialogue with local educational institutions to bolster this initiative.

“We do not measure our successes in Saudi Arabia by revenues alone, but rather by the positive impact we have on the clients and communities we serve. We are committed to enriching the countries in which we operate, and through our efforts, we aim to elevate the construction sector in Saudi Arabia to truly world-class levels, thereby supporting the local economy, and boosting everything from business and manufacturing, to travel and tourism,” said Lewis.

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