Gulf Construction Online - Egis wins key deals; inks major acquisition

Saudi Focus

Seven is spearheading the development of a number of entertainment destinations in the kingdom.

Egis wins key deals; inks major acquisition

01 April 2023

Egis, a major international group in the consulting, construction engineering and mobility sectors, clinched two major deals in Saudi Arabia last month – the first to provide consulting services for 26 airports in the kingdom and the second for project management services for Saudi Entertainment Ventures’ (Seven) entertainment destinations.

It also announced an agreement to acquire Omrania, a major Saudi architectural and engineering consultancy, and setting up a new office in the kingdom.

Its latest contract win sees it taking responsibility for the project management of Seven’s entertainment destinations in the Northwestern and Southern Provinces, including the recently announced project in Tabuk.

The contract was awarded by Seven, a wholly-owned subsidiary of the kingdom’s sovereign wealth fund PIF, which has been mandated to invest in, develop, and operate entertainment destinations and create a sustainable entertainment sector in the kingdom.

According to Egis, the scope of work includes overseeing the design of the entertainment destinations and attractions development through all work stages, the identification of potential specialist partnerships required in the execution of the project as well as construction and project management services.

Earlier last month, Egis was awarded a three-year contract by Matarat (formerly Saudi Civil Aviation Holding Company) to provide consulting services for 26 airports in the kingdom. Matarat manages the operation of 27 airports across Saudi Arabia through its subsidiaries.

Egis CEO (Middle East and South Asia) Alaa AbuSiam said the contract includes designing a practical guide for project implementation, quality control and safety procedures, and improving design specifications and standards in line with international best practices and environmental and sustainability requirements.

The leading international multidisciplinary engineering, consulting and operations firm has also entered into a definitive agreement to acquire Omrania.

According to Egis, the acquisition marks a significant step forward for both firms with strong geographic and business alignment, creating an opportunity to leverage their joint footprint and client base to reach significant scale in Saudi Arabia.

Headquartered in Riyadh, Omrania has 50 years of experience. With the addition of almost 700 professionals from Omrania, Egis in the Middle East region is expected to grow to over 3,000 people. The transaction is expected to close in the first half of 2023, it added.

Egis last month also announced the opening of its new office in the historical Saudi city of AlUla. With this new office, the company now has four dedicated offices in Saudi Arabia, including in Riyadh, Jeddah and Al Khobar.