HanmiGlobal Secures Consecutive Contracts for Neom City Service Projects Including Accommodation for Construction Technicians

Document Management System Development Contract Secured... Preparing for Main Contract
Subsidiary Worker Resigns, 'The Line' Project Service Contract Secured

[Asia Economy Reporter Noh Kyung-jo] HanmiGlobal announced on the 28th that it has consecutively won contracts related to the Neom City project currently underway in Saudi Arabia.

First, it secured a contract for the construction of worker housing facilities. HanmiGlobal explained that last month it received a Letter of Intent (LOI) for business monitoring services to create a lodging complex for construction technicians of Neom City, and has started work while currently preparing the main contract.

The site covers a total area of 8 million pyeong and will include lodging, sports and entertainment facilities, restaurants, medical facilities, a mosque, multipurpose buildings, and other facilities. The plan is to build 489,500 housing units, of which HanmiGlobal will participate in the project for 50,000 units. The contract amount is approximately 9 billion KRW.

In this regard, until June 2024, HanmiGlobal will carry out tasks such as project design, ordering, construction review, on-site safety and environmental management monitoring, handling of completion defects, inspection management after use approval, and mediation of various construction-related disputes. They are also pursuing a second contract for the lodging complex.

Additionally, HanmiGlobal reported that earlier this month it received a notification of award for the development of Neom’s document management system and is promoting the main contract. By October 2024, they will establish document management policies and systems for Neom’s design and construction sectors, support efficient management of electronic documents and printed materials, operate the Project Management Information System (PMIS), and provide training and support for employees on the document management system.

HanmiGlobal’s UK subsidiary, Walker Sime, recently won a contract for the 'The Line' project, a key part of Neom City construction. Walker Sime will support tasks such as strategic positioning, focused regional marketing, financing, and business planning. The contract was signed with the method of finalizing content and contract amount during the service execution phase.

Previously, in June last year, HanmiGlobal became the first domestic company to win the special overall program management (e-PMO) contract for the Neom City construction project. In August this year, it additionally signed a contract to supply global advisory services for Neom City. Among the total 13 advisory fields (worth 667 million USD) for promoting the Neom City construction project, HanmiGlobal will provide services in three specialized areas?general business management, transportation, environment, and sustainability?until August 2024.