
HanmiGlobal, a global project management specialist, has announced that it has secured a 25 billion won ($18.3 million) contract for a high-rise mixed-use complex located opposite Al Haram at Makkah in Saudi Arabia.
The scope of work includes provision of project management services for the project comprising residential towers as well as retail and commercial facilities along with key amenities including prayer rooms, parking lots and other supporting facilities.
HanmiGlobal continues to maintain stable performance through consistent overseas contracts, reported Business Korea.
In the first quarter of this year, the company recorded consolidated sales of 122.5 billion won and operating profit of 9.8 billion won, with overseas sales accounting for about 52% of the total at 63.5 billion won.
Notably, sales in Saudi Arabia increased by 11% compared to the previous quarter, reaching 12.3 billion won, it stated.
Since entering the Saudi market in 2007, HanmiGlobal has successfully completed over 40 projects. From 2021, the company has secured numerous projects related to Saudi Arabia’s future smart city project, “NEOM City.”
To date, it has conducted a total of eight projects, including special overall program management (e-PMO), general project management, transportation, environment, and sustainability consulting services in three areas, and monitoring services for the 80,000-unit workers’ accommodation complex project, said the Business Korea report.
In July last year, HanmiGlobal proactively established a regional headquarters (RHQ) in Saudi Arabia, leading among Korean companies in strengthening its business expansion and local sales base in the Middle East region, it added.