Katerra, a technology company optimising every aspect of building design, materials supply and construction, has reinforced that business is continuing as usual in Saudi Arabia with its multiple projects and activities advancing across the kingdom.

 

Last week, following a thorough review of their strategic alternatives, Katerra's United States and Cayman Island affiliates had voluntarily filed for relief under Chapter 11 of the US Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas. 

 

The company, however, stated that this filing did not include or impact the day-to-day operations of Katerra’s international affilliates, such as Katerra Saudi Arabia and Katerra India.

 

Reiterating its commitment to the kingdom, Katerra Saudi Arabia President and CEO Ghassan Mirdad said: "We have multiple projects and activities underway across Saudi Arabia. Our company is both committed to the completion of all on-going projects and is also actively seeking new projects."

 

"We look forward to continuing our productive relationships with both customers and vendors over time," he added.

 

According to him, demand in the kingdom has been strong for its services, with a solid selection of existing projects and a significant pipeline of customers providing substantial revenue visibility. 

 

Katerra has a portfolio of residential projects in the kingdom including a big one for National Housing Company featuring 14,000 housing units, she stated. 

 

"Besides, we may also have a dozen sites under construction by the end of the year with five manufacturing facilities currently operational in the kingdom," he added.-TradeArabia News Service