HanmiGlobal seeks to win more large-scale orders from Saudi Arabia

HanmiGlobal, Korea’s leading project management company, is seeking to win large-scale orders from the Middle East and especially from the Diriyah Gate Project in Saudi Arabia, the company said Tuesday.

Earlier this month, the Saudi public investment fund (PIF), led by Crown Prince bin Salman, designated Diriyah Gate, a new city development project at the historic UNESCO World Heritage site of Diriyah on the outskirts of Riyadh, as the fifth mega project alongside NEOM, the world’s largest new city construction project.

This project is being carried out as part of the kingdom’s “Vision 2030,” a medium- to long-term development plan of the Saudi Arabian government, which includes NEOM, the Red Sea Global tourism development on the west coast, Qiddiya, an entertainment and lifestyle destination located 40km from the Saudi capital and ROSHN, the kingdom’s largest residential property developer.

The Diriyah development will feature luxury hotels and restaurants built in the traditional Najdi architectural style, alongside conservation areas and cultural venues with a total project cost of $20 billion.

Last July, HanmiGlobal won the PM service for the housing and commercial/office complex development project in the Diriyah South & Garden District, worth around 44 billion won ($35 million), ordered by the Diriyah Gate Development Authority (DGDA).

Since entering Saudi Arabia in 2007, HanmiGlobal has successfully carried out more than 30 projects, including large-scale residential complex development and new city development. In June 2021, it became the first Korean company to receive authorization to operate an enterprise project management office (e-PMO) service for the NEOM construction project. And in August of last year, a total of 13 advisory fields worth $17 million for the NEOM construction project was won.

The company entered Saudi Arabia by winning a total of seven projects in NEOM, including signing global advisory service contracts in three areas of expertise; general business management, transportation, environment and sustainability.

“We will make efforts to win additional orders not only in the NEOM project in Saudi Arabia, but also in the Diriyah Gate project, and we will do our best to lead the business with HanmiGlobal’s accumulated construction management capabilities and technology,” a company official said.