ALEC Engineering and Contracting LLC (ALEC), one of the largest construction firms in the Middle East, reported a 29 per cent year-on-year revenue growth for 2024, driven by its Saudi Arabia expansion and strong performance from its subsidiaries.
The Dubai-based company, part of the Investment Corporation of Dubai (ICD), increased its workforce by 46 per cent to nearly 40,000 workers and established new facilities in Ras Al Khaimah, according to a company statement on Tuesday.
“Having established a robust ecosystem of talent, production facilities, supply chains, and logistics in the UAE, replicating this success in Saudi Arabia was the next logical step,” said Barry Lewis, CEO at ALEC.
“In just two years, we have grown to be recognised as one of the most trusted construction firms in the Kingdom. This success has been driven not by volume but by a portfolio of complex, high-value developments,” Lewis added.
ALEC has secured several landmark projects in Saudi Arabia, including the Qiddiya Waterpark and Qiddiya Speedpark, as it continues to diversify across sectors and expand its regional footprint.
The company’s subsidiaries have also contributed significantly to its growth. AJI Rentals, ALEC’s heavy equipment rental arm, established operations in Saudi Arabia last year while expanding its UAE presence with a new facility in Dubai.
TARGET Engineering, which ALEC acquired previously, won multiple large-scale engineering, procurement, and construction projects in 2024, including contracts with MMBD, Borouge, and the Dalma Gas Development, according to the statement.
The company plans to focus on consolidation in 2025 as several large contracts move into “the phase of significant activity”, said John Deeb, COO and CFO of ALEC.
The construction firm is also pushing into new technologies, aiming to automate 5 per cent of its construction activities through advanced robotic solutions by 2030, as part of its recently unveiled Robotics Strategy.
ALEC offers services across construction, MEP (mechanical, electrical and plumbing), fit-out, marine, oil and gas, modular construction and other related fields, serving sectors including airports, retail, hotels and resorts.
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