HanmiGlobal Wins 25 Billion KRW High-Rise Residential PM Contract in Saudi Arabia

Accelerating Local Expansion Based on Middle East Regional Headquarters

HanmiGlobal, a company specializing in construction project management (PM), announced on July 1 that it has secured the PM contract for a premium high-rise residential complex development project in Mecca, Saudi Arabia. The contract amount is approximately 25 billion KRW, which corresponds to about 10% of last year's overseas sales.

This project involves the development of a luxury residential complex across from Al-Haram, the holiest site in Islam. The complex will include a residence tower, commercial facilities, prayer rooms, and parking lots.

Since entering Saudi Arabia in 2007, HanmiGlobal has carried out over 40 projects. Since 2021, the company has won eight contracts related to NEOM City, including: ▲Special General Program Management (e-PMO), ▲Environmental, Transportation, and Sustainability Consulting, and ▲Monitoring of Worker Accommodation Complexes.

This latest contract is also aligned with HanmiGlobal's efforts to strengthen its presence in the Middle Eastern market. In July last year, HanmiGlobal became the first Korean company to establish a Middle East Regional Headquarters (RHQ) in Saudi Arabia. Starting this year, the Saudi government requires companies to have an RHQ in order to participate in government project bids.

In the first quarter of this year, HanmiGlobal's overseas sales reached 63.5 billion KRW, exceeding half of the total sales (122.5 billion KRW). Sales in Saudi Arabia increased by 11% compared to the previous quarter, reaching 12.3 billion KRW.

HanmiGlobal stated, "Securing this project is not just a construction business achievement, but also another recognition of our global PM capabilities and expertise in the Middle Eastern market." The company added, "We will continue to achieve results not only in the Middle East but also in the global market."